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Rail News: Rail Industry Trends

TMM finalizes merger, single-class stock plans


Grupo TMM (formerly Grupo Servia), the largest shareholder in Transportación Maritima Mexicana S.A. de C.V., recently filed documents with Securities and Exchange Commission and Mexican Bolsa Exchange to register securities that would be issued in the proposed TMM/Grupo TMM merger.
TMM — which owns a controlling interest in Transportación Ferroviaria Mexicana S.A. de C.V. — earlier this year obtained bondholder approval to merge its TFM and Grupo Servia units.
TMM and Grupo TMM expect to complete their merger by year-end, creating a combined company to be called Grupo TMM.
Once the merger's complete, TMM officials plan to merge TFM and Grupo Servia stock shares into a single class.
"The merger is expected to produce substantial tax benefits for the company," said TMM Chairman and Chief Executive Officer Jose Serrano in a prepared statement.

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More News from 12/17/2001