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9/26/2003



Rail News: M&A

Mexican Competition Commission extends authorization of KCS' TFM purchase-deal with TMM


The Mexican Competition Commission extended for six months its prior authorization of Kansas City Southern's purchase of all TFM S.A. de C.V. shares from Grupo TMM S.A., according to a KCS statement issued Sept. 26.

The Commission placed no conditions on the extension, which KCS requested in order to have additional time to pursue a possible legal battle with TMM over a TFM acquisition agreement signed in April.

"The decision [will] allow the acquisition to be completed during the period of the extension without [us] having to apply once again for authority from the commission," said Ronald Russ, KCS executive vice president and chief operating officer, in a prepared statement.


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