Grupo Mexico buys FEC Railway

[Deleted member 8978]

This is a heads-up for anyone that rides the Florida East Coast rails:

http://www.news4jax.com/news/local/...t-railroad-to-buy-fec-railroad-for-21-billion

JACKSONVILLE, Fla. - Mexican mining and rail conglomerate Grupo Mexico says it has reached an agreement to buy Jacksonville-based Florida East Coast Railway Holdings Corporation for $2.1 billion, all-cash transaction.

Grupo Mexico Transportes said Tuesday it will acquire 100 percent of the company's shares and assume its debt, pending approval of the deal by regulatory authorities from both the United States and Mexico.

FEC serves the entire East Coast of the state. It is the exclusive provider of rail service to South Florida's ports -- Port Miami, Port Everglades and the Port of Palm Beach.

 

[Deleted member 125]

2.1 billion is a hell of a steal for the entire fucking class 2 railroad line.

i wonder if this is going to have a effect on csx trackage rights in northern florida.

 

[Art101]

Will b e interesting to see.I need to win the lottery.I will run a rider friendly local somewhere lol.

 

[Deleted member 8978]

All I know is that there has been a constant fair share of operations where FEC was partially in charge of running whatever Jacksonville yards were in their vision. This time, it's simply the Mexicans financially getting involved. But for the $2.1 billion scare? There could be something fishy going on here, let's see how this whole thing gets played out.

2.1 billion is a hell of a steal for the entire fucking class 2 railroad line.

i wonder if this is going to have a effect on csx trackage rights in northern florida.