Mexico's largest railroad operator Ferromex is nearing a deal to acquire Florida East Coast Railway for more than $2 billion, including debt, people familiar with the matter said on Monday. The potential deal shows that Gupo Mexico, Ferromex's parent, is seeking to apply its railroad operating expertise to foreign assets after dominating the railway freight sector in Mexico. Manzanillo, Mexico, has a liquefied natural gas terminal and a rail line operated by Ferromex, a railroad owned by Grupo Mexico SAB and Union Pacific Corp.
The Fortress LNG facility in Miami and the one proposed for Titusville must all look really good - on paper anyway.
Grupo Mexico has prevailed in auction for Florida East Coast Railway and is now negotiating final terms with the U.S. Fortress Investment Group LLC, two people have said.
The Florida East Coast operates a 351-mile freight system along the east coast of Florida.
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Original article was written by Greg Roumeliotis of Reuters.