The railroad company Grupo México Transportes (GMXT) reported that one of its subsidiaries based in the United States purchased 60 percent of the shares of a provider of the maritime transportation service for rail cars that connects to the ports of Mobile, Alabama (United States) and Coatzacoalcos, Veracruz (Mexico).
“GMXT entered into various contracts with Rail Ferry Investment Holdings Inc., G&W Agave Holdings Inc. and certain of their respective subsidiaries to carry out the acquisition of 60 percent of the interests representing the capital of Golfo de Mexico Rail Ferry Holdings, LLC and Rail Ferry Vessel Holdings LLC, entities whose main business consists of providing the maritime transportation service for rail cars between the United States of America and Mexico, known as Ferrobuque,” the company informed the stock market.
GMXT, made up of the Ferromex, Ferrosur and TexasPacific railroads, transports more than 5.0 million metric tons of steel per year. Its main clients in the steel sector are Ternium, DeAcero, Talleres y Aceros (Tyasa) and Simec, among others.
The Acquisition is subject to suspensive conditions such as the authorization of the Committee on Foreign Investment in the United States and the Transportation Board. The acquisition is expected to be completed during the second quarter of 2024.