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Brightline's Acquisition of XpressWest

On September 18, 2018, Brightline, the nation’s only privately owned, operated and maintained express intercity passenger rail system, announced that it has agreed to acquire XpressWest, a high‑speed passenger rail project with rights to develop a federally approved corridor connecting Southern California and Las Vegas, Nevada. This project would be only the second privately funded express intercity passenger rail in the United States, following Brightline’s Florida rail corridor. Cravath is representing Brightline, a portfolio company of Fortress Investment Group LLC, in connection with the transaction.

The Cravath team is led by partners Damien R. Zoubek and Keith Hallam and includes associates Matthew G. Jones, Matthew L. Ploszek, Robert C. Warshaw and Quinn Wetherall on M&A matters; partners Andrew W. Needham and Christopher K. Fargo, senior attorney Andrew Carlon and associates Damien J. Rose and Andrew L. Mandelbaum on tax matters; partner Matthew Morreale on environmental matters; senior attorney M. C. Tania Balthazaar on executive compensation and benefits matters; and practice area attorney Brian M. Budnick on real estate matters.