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Grupo Mexico to acquire Florida railway for $2.1b

by Andrea Waitrovich

Grupo Mexico has announced plans to acquire Florida East Coast Railway Holdings Corp. from Fortress Investment Group for $2.1 billion. The deal secures the company a 351-mile railway between Miami and Jacksonville, Fla., and is part of its wider plans to expand its U.S. rail links.

FEC can connect to 70 percent of the United States in one to four days and operates approximately 500,000 diverse cargo loads in the intermodal, aggregates, automobile, chemicals, metals and timber segments a year.

Grupo Mexico currently operates largely in Texas, at five crossing points on the U.S.-Mexico border. It also has connections with eight seaports.

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