Grupo México acquires 60% of two US maritime transport companies – El Sol de México

A unit ofe Mexico Group acquired 60 percent of two companies that are dedicated to railway carriage sea transport between the United States and Mexico, the Mexican company said this Tuesday.

The subsidiary, GMéxico Transportes, also known as Ferromex GMXT.MX, acquired the interest in the entities Gulf of Mexico Rail Ferry Holdings and Rail Ferry Vessel Holdings, he said in a statement, in which he did not detail the amount of the operation.

With this operation, Ferromex seeks to take advantage of the opportunities that will be generated with the Transisthmian Project, an industrial corridor promoted by the Mexican government, which includes a train inaugurated last week that connects the coast of the Gulf of Mexico with the Pacific coast, in the south of the country.

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The operation is expected to be completed during the second quarter of 2024, once regulatory and investment approvals are obtained. USAsaid Ferromex.

The acquisition comes amid concerns about the cross-border trade between Mexico and the United Statesafter two railway crossings were recently and temporarily closed due to a sharp increase in the flow of migrants and which caused alarm among operators of railways and the agricultural industry due to the economic impact on trade.

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This week, Mexico receives an American delegation led by the Secretary of State, Antony Blinken, to address migration again after a call last week between the leaders of both countries, after which the president Andrés Manuel López Obrador offered to reinforce measures to deal with the flow of people trying to cross the border.

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