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Passenger Trains > Owner of Ferromex nears deal to acquire Florida East CoastDate: 03/27/17 22:49 Owner of Ferromex nears deal to acquire Florida East Coast Author: GenePoon EXCLUSIVE-Ferromex's owner nears deal to acquire Florida East Coast Railway -sources
March 27, 2017, 03:13:00 PM EDT By Reuters By Greg Roumeliotis March 27 (Reuters) - The owner of Ferrocarril Mexicano (Ferromex), Mexico's largest railroad operator, 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 Ferromex's parent, Mexican mining conglomerate Grupo Mexico <GMEXICOB.MX>, is now seeking to apply its railroad operating expertise to foreign assets after dominating the railway freight sector... ...Grupo Mexico has prevailed in an auction for Florida East Coast Railway and is now negotiating final terms with the U.S. regional railroad's owner, Fortress Investment Group LLC <FIG.N>, two people said. If the negotiations are completed successfully, a deal could be announced as early as this week, the people added, asking not to be identified because the sale process is confidential. Fortress declined to comment. Ferromex, Grupo Mexico and Florida East Coast Railway did not immediately respond to requests for comment. Based in Jacksonville, Florida East Coast Railway operates a 351-mile (565-km) freight rail system located along the east coast of Florida. Fortress took Florida East Coast Railway private in 2007 for $3.5 billion. Fortress, an investment firm with $69.6 billion in assets under management as of the end of December, agreed last month to sell itself to Japan'sSoftBank Group Corp <9984.T> for $3.3 billion. Link to full story: Ferromex's owner nears deal to acquire Florida East Coast[/url] Date: 03/27/17 22:57 Re: Owner of Ferromex nears deal to acquire Florida East Coast Author: cchan006 GenePoon Wrote:
------------------------------------------------------- > ...Grupo Mexico has prevailed in an auction for Florida East > Coast Railway and is now negotiating final terms with the U.S. > regional railroad's owner, Fortress Investment Group LLC > , two people said. The article doesn't mention the other bidders, and I'm curious who they are. Should be no surprise if Softbank asked Fortress to spin off the FEC. Date: 03/27/17 23:41 Re: Owner of Ferromex nears deal to acquire Florida East Coast Author: NYC4096 Does any federal (US) agency or committee need to ratify such a deal?
Date: 03/28/17 00:15 Re: Owner of Ferromex nears deal to acquire Florida East Coast Author: SP4360 Bet Donny has something to say about it.
NYC4096 Wrote: ------------------------------------------------------- > Does any federal (US) agency or committee need to > ratify such a deal? Date: 03/28/17 05:11 Re: Owner of Ferromex nears deal to acquire Florida East Coast Author: PennPlat Brightline will fail and then be taken over by Tri-Rail/State of Florida.
Date: 03/28/17 06:22 Re: Owner of Ferromex nears deal to acquire Florida East Coast Author: Lackawanna484 PennPlat Wrote:
------------------------------------------------------- > Brightline will fail and then be taken over by > Tri-Rail/State of Florida. That's been a recurring meme since its announcement. It would give Tri-Rail its long desired eastern leg through the downtowns, and up to Jupiter. The real estate development around the stations appears to be going into the Japanese purchase. Date: 03/28/17 08:07 Re: Owner of Ferromex nears deal to acquire Florida East Coast Author: chrsjrcj PennPlat Wrote:
------------------------------------------------------- > Brightline will fail and then be taken over by > Tri-Rail/State of Florida. The state of Florida doesn't even want Tri-Rail or SunRail, so what makes you think the state will take over Brightline? I don't know why so many on this site are opposed to seeing passenger rail succeed in this country. Posted from iPhone Date: 03/28/17 08:53 Re: Owner of Ferromex nears deal to acquire Florida East Coast Author: ts1457 I wonder if the sale would be structured in a way that Brightline still would have the rights to go on to Jacksonville?
Date: 03/28/17 11:48 Re: Owner of Ferromex nears deal to acquire Florida East Coast Author: PennPlat The huge amount borrowed vs possible ridershop just doesn't work. I'm not against passenger rail. I live in Boynton Beach and could use Brightline from W. Palm Beach, I'm all for the service.
I certainly would be all for JAX - MIA service and the sooner the better. Driving on I-95 here is extremely dangerous, FL Turnpike not as bad but not good. With thousands more moving here each year driving will only get worse. As it stands now if I would like to go to Tampa or Orlando by train I just need to drive 10 minutes to the Delray Beach shared TriRail/Amtrak station, Star to Tampa and Orlando, Meteor to Orlando. Plenty of free parking at the station. Date: 03/28/17 12:38 Re: Owner of Ferromex nears deal to acquire Florida East Coast Author: GP25 Would the State of Florida want any passenger service or none?
chrsjrcj Wrote: ------------------------------------------------------- > PennPlat Wrote: > -------------------------------------------------- > ----- > > Brightline will fail and then be taken over by > > Tri-Rail/State of Florida. > > The state of Florida doesn't even want Tri-Rail or > SunRail, so what makes you think the state will > take over Brightline? > > I don't know why so many on this site are opposed > to seeing passenger rail succeed in this country. > > Posted from iPhone Jerry Martin Los Angeles, CA Central Coast Railroad Festival |