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Rail News: Rail Industry Trends

NAFTA Rail: KCS, Grupo TMM to obtain final Mexican regulatory verdict in late August

Kansas City Southern and Grupo TMM S.A. expect Mexico's Foreign Investment Commission (FIC) to issue a ruling on the proposed NAFTA Rail plan on or before Aug. 28 — more than two weeks later than a previously announced Aug. 12 decision date.

KCS and Grupo TMM plan to place TFM S.A. de C.V. under the common control of NAFTA Rail, a Kansas City, Mo.-based holding company. FIC must approve the plan to enable foreign company NAFTA Rail to become a majority owner of Mexican-based railroad TFM. Mexico's Competition Commission previously approved the plan.

KCS and Grupo TMM still need Surface Transportation Board approval to place The Kansas City Southern Railway Co., The Texas Mexican Railway Co. and Gateway Eastern Railway Co. under NAFTA Rail's common control. A board decision is expected Oct. 17.

Contact Progressive Railroading editorial staff.

More News from 8/13/2003