MEXICAN industrial conglomerate Grupo México has agreed to buy Florida-based railroad Florida East Coast from US investment group Fortress, paying around $2 billion.
Grupo México owns the majority of two of Mexico’s main rail operators (55.4% of Ferromex and 74.9 % of Ferrosur).
Florida East Coast has its own 565km-long route between Miami and Jacksonville and interchanges freight with other US Class 1 railroads. Fortress will retain ownership of the new
inter-city passenger operator
All Aboard Florida (to operate from later this year as Brightline – see RM Feb 2017, p97), which will partly use Florida East Coast tracks.
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