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Rail News: M&A

Majority of Mexrail shares back in TFM's hands

On Sept. 30, TFM S.A. de C.V. repurchased 51 percent of Mexrail Inc. shares sold to Kansas City Southern in May.

Surface Transportation Board previously issued a decision finding the board did not need to rule on the transfer-back transaction.

Under the terms of an agreement reached with KCS in April, TFM retained the right to repurchase Mexrail shares for the original purchase price of $32.7 million. TFM used existing cash accounts to fund the repurchase.

Contact Progressive Railroading editorial staff.

More News from 10/2/2003