A Grupo Mexico Transportes unit has acquired 60% stakes in two firms providing maritime transportation services of railroad cars between the United States and Mexico, the company said.
The stakes are in Golfo de Mexico Rail Ferry Holdings and Rail Ferry Vessel Holdings, Grupo Mexico Transportes said in a filing.
Financial details were not disclosed.
“The acquisition allows GMXT (Grupo Mexico Transportes) to continue consolidating its position as a leading freight transportation company in the region, strengthening its commitment to Mexico and the south of the United States,” the filing said.
The transaction is subject to regulatory approval.
Cross-border trade has slowed after U.S. authorities closed two railway border crossings to shift resources to deal with an increase in migration.
Source: Reuters.com