JACKSONVILLE, Fla. — Ferromex owner Grupo Mexico is in the process of acquiring Florida East Coast Railway at a cost of more than $2 billion, reports the Reuters news service, which cites people familiar with the matter. The deal could be finalized as early as this week.
According to the article, Mexico’s largest railroad has prevailed in an auction to acquire the regional railroad and is currently in discussions with its owner, Fortress Investment Group, LLC.
Fortress declined to comment. Neither Ferromex nor Florida East Coast immediately responded to requests for comments by Reuters.
Florida East Coast Railway operates more than 350 miles of track between Jacksonville and Miami.
Trains News Wire will update information on this developing story as it becomes available.
Edited to clarify that Ferromex owner Grupo Mexico is interested in FEC.
