GMéxico Transportes, S.A.B. de C.V. (BMV:GMXT *) agreed to acquire 50% stake in CG Railway, Inc. from Waterman Logistics, Inc.
January 01, 2024
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GMéxico Transportes, S.A.B. de C.V. (BMV:GMXT *) agreed to acquire 50% stake in CG Railway, Inc. from Waterman Logistics, Inc. on January 2, 2024. Post completion of the acquisition, GMéxico Transportes will become Genesee & Wyoming Inc. new partner in the joint venture for CGR. The transaction is subject to pending receipt of regulatory approvals for their purchase of equity interests in CGR.
GMexico Transportes SAB de CV, formerly known as GMexico Transportes SA de CV (GMXT), is a Mexico-based company, which offers railway cargo services in the segments of agriculture, automotive, minerals, energy, chemicals, steel, cement, and consumer goods. The Company is a subsidiary of Grupo Mexico SAB de CV and it represents its Transportation Division. Its main subsidiaries are Grupo Ferroviario Mexicano SA de CV (GFM), Ferrocarril Mexicano, SA de CV (Ferromex), Infraestructura y Transportes Ferroviarios SA de CV (ITF), Ferrosur, SA de CV (Ferrosur), Intermodal Mexico SA de CV (IMEX) and Texas Pacifico LP Inc (TXP). It has a network of over 10,500 kilometers (km) of rails through approximately 20 states in Mexico, and the state of Texas in the United States. GMXTâs lines connect at border points with the United States, as well as at more than four ports on the Pacific Coast, and some more on the Gulf of Mexico.