Ferromex, largest transporter in Mexico and the Florida East Coast Railway Holdings Corp (FEC) announced on March 28 that they have entered into an agreement under which the Mexican company will acquire FEC in an all cash transaction. The acquisition is expected to close subject to satisfaction of closing conditions including the receipt of applicable government approvals. The value of the transation is USD 2 billion.
Florida East Coast Railway operates 565 km of mainline track along the east coast of Florida with direct rail access to South Florida’s ports and serves five intermodal terminals and provides full service drayage for our customers.
GMXT is the biggest rail operator in Mexico, with 10,000 km of rail track covering major industrial and commercial zones in the country and connecting to international transport networks through 8 seaports and 6 border crossings, handling over 1.4 million loads per year. The acquisition of FEC will immediately establish GMXT as an important rail owner in the United States.
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