GMéxico Transportes S.A. de C.V.’s $2.1 Billion Acquisition of Florida East Coast Railway Holdings Corp.


Galicia Abogados, Dechert, Cravath, Swaine & Moore and Sidley Austin have advised on the deal

The Florida East Coast Railway (FEC) and GMéxico Transportes S.A. de C.V.(GMXT), the transportation unit of Mexico City, Mexico-based miner Grupo Mexico, announced that they have entered into an agreement in which GMXT will acquire FEC in a $2.1 Billion all-cash transaction, which is expected to close subject to satisfaction of closing conditions.

Florida East Coast Railway, LLC operates a freight rail system along the east coast of Florida. The company provides on-dock rail, intermodal, highway, and drayage services. The company, led by James R. Hertwig, John A. Brenholt, Robert Ledoux, is based in Jacksonville.

GMXT is comprised of 10,570 kilometres, or 620 miles, of railroads across 24 states in Mexico, as well as Texas.

FEC is owned by funds managed by affiliates of Fortress Investment Group LLC

GMéxico Transportes S.A. de C.V. operates as a subsidiary of Grupo México.

Grupo Mexico SAB de CV mines, processes, and markets copper, silver, gold, molybdenum, lead, and zinc. The Company holds concessions to operate the Pacifico-Norte and Chihuahua-Pacifico Railroad lines.

Galicia Abogados has advised GMéxico Transportes S.A. de C.V. with Christian Lippert, Maurice Berkman, Carlos Chávez, Guillermo Pérez Santiago and Ángeles Padilla.

Dechert has advised GMéxico Transportes S.A. de C.V. with Howard Kleinman (Picture), Bernardo Piereck, Joshua Milgrim, Elizabeth Tabas, Francois Quintard-Morenas, Susan Nieto, Daniel Mozes, Benjamin Snyder, Stephanie Haas, Daniel Rainer, Steven Lorch and Juan Pablo Betancourt.

Cravath has advised Florida East Coast Railway Holdings Corp. with a team led by partners Damien R. Zoubek and Keith Hallam and including associates G.J. Ligelis Jr., David J. Kohtz, Ammanuel G. Gebeyehu and Hector A. Sants on M&A matters; partners Andrew W. Needham and Christopher K. Fargo and associates Tara L. Rhoades and Cecily Xi on tax matters; partner Eric W. Hilfers and associate Michelle M. Garrett on executive compensation and benefits matters; partner George E. Zobitz and associate Matthew M. Kelly on financing matters; partner Matthew Morreale and senior attorney Annmarie M. Terraciano on environmental matters; senior attorney Jesse M. Weiss on antitrust matters; and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters. Christopher C. Gonnella also worked on executive compensation and benefits matters.

Sidley Austin has advised Fortress Investment Group LLC with James Mendenhall, Terence Hynes, Mark Schneider and Marc Raven.

Involved fees earner: Christian Lippert H. – Galicia Abogados, S.C; Guillermo Pérez Santiago – Galicia Abogados, S.C; María de los Ángeles Padilla Zubiría – Galicia Abogados, S.C; Maurice Berkman – Galicia Abogados, S.C; Carlos Chávez – Galicia Abogados, S.C; Howard Kleinman – Dechert; Bernardo Piereck – Dechert; Susan Nieto – Dechert; Daniel Mozes – Dechert; Stephanie Haas – Dechert; Daniel Rainer – Dechert; Joshua Milgrim – Dechert; Steven Lorch – Dechert; Elizabeth Tabas Carson – Dechert; Benjamin Snyder – Dechert; Francois Quintard-Morenas – Dechert; Damien Zoubek – Cravath Swaine & Moore; Keith Hallam – Cravath Swaine & Moore; G.J. Ligelis Jr. – Cravath Swaine & Moore; David J. Kohtz – Cravath Swaine & Moore; Ammanuel Gebeyehu – Cravath Swaine & Moore; Hector Sants – Cravath Swaine & Moore; Andrew Needham – Cravath Swaine & Moore; Christopher K. Fargo – Cravath Swaine & Moore; Tara Rhoades – Cravath Swaine & Moore; Cecily Xi – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Michelle Garrett – Cravath Swaine & Moore; George E. Zobitz – Cravath Swaine & Moore; Matthew Kelly – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Annmarie Terraciano – Cravath Swaine & Moore; Jesse Weiss – Cravath Swaine & Moore; Joyce Law – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore; James Mendenhall – Sidley Austin LLP; Mark Schneider – Sidley Austin LLP; Marc Raven – Sidley Austin LLP; Terence Hynes – Sidley Austin LLP;

Law Firms: Galicia Abogados, S.C; Dechert; Cravath Swaine & Moore; Sidley Austin LLP;

Clients: Fortress Investment Group; GMéxico Transportes S.A. de C.V. ; Florida East Coast Railway, LLC ;

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Author: Ambrogio Visconti.