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MEXICO CITY (Reuters) – A unit of Grupo Mexico Transportes has acquired a 60% stake in two corporations that offer rail transportation between the United States and Mexico, the company said on Tuesday.
The stakes are in Golfo de Mexico Rail Ferry Holdings and Rail Ferry Vessel Holdings, Grupo Mexico Transportes said in a filing.
The main financial points were revealed.
“The acquisition allows GMXT (Grupo Mexico Transportes) to continue consolidating its position as a leading freight transportation company in the region, strengthening its commitment to Mexico and the south of the United States,” the filing said.
The transaction is subject to regulatory approval.
The cross-border industry slowed after the U. S. government closed two rail border crossings in order to divert resources to deal with increased migration.
(Reporting via Valentine Hilaire; editing by Richard Chang)