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Article: Kansas City Southern announces amended deal for Mexican railroad.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 16, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Randolph Heaster, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Dec. 16--KANSAS CITY, Mo. -- Twenty months after announcing a deal, Kansas City Southern on Wednesday said it had reached an amended agreement to acquire control of Mexico's biggest railroad for about $670 million.
The boards of directors of Kansas City Southern and Grupo TMM said TMM would sell its majority interest in Grupo TFM, a railroad that runs from Mexico City through northeast Mexico.
The transaction will create a 5,300-mile transcontinental railroad, more than doubling Kansas City Southern's revenue and workforce.
The deal calls for Kansas ...