- The Secretary of the Navy expropriated the Ferrosur facilities, belonging to Grupo México Transportes, in the Coatzacoalcos-Medias Aguas section.
- The expropriation caused a 5% drop in the shares of Grupo México Transportes.
- This measure is related to the Transoceanic Corridor project and was carried out with the support of the armed forces.
The Secretary of the Navy (Semar) materialized the expropriation of the Ferrosur facilities, in the section between Coatzacoalcos and Medias Aguas, which belongs to Grupo México Transportes.
The expropriation occurred the same day that the federal government published in the Official Gazette of the Federation (DOF) a decree by which determined the “temporary and immediate” occupation of the railway section.
In this context, the shares of Grupo México Transportes, a unit of the mining and infrastructure company Grupo México, fell almost 5 percent at the end of Friday, May 19.
The expropriation was carried out with the support of the armed forces, which temporarily occupied a section of the railway located in southern Mexico.
It’s a statement, the company called the move “surprising.”
The expropriation carried out by the government of Andrés Manuel López Obrador is related to the progress of the Transoceanic Corridor, the project that seeks to create a rail link between the Pacific coast and the Gulf of Mexico coast, on the Isthmus of Tehuantepec, work that could compete with the business of the Panama Canal.
In the same statement, the company said it will continue to provide services under the “supervision of the armed forces.”
Communication from Grupo México Transportes to the Stock Market
The text, sent to the Mexican Stock Exchange, adds: “The surprising and unusual takeover of the facilities by the Armed Forces is being analyzed by Grupo México Transportes, its investors and advisors.”
Grupo México, led by Germán Larrea, the second richest person in the country, said that “the actions to be followed will be informed in a timely manner” in accordance with the company’s obligations as a public company.
As context, it is worth saying that the measure occurs in the middle of the negotiations that Larrea is holding with Citigroup for the sale of Banamex.
On the other hand, the billionaire was twice in the National Palace and President López Obrador himself gave his approval for him to acquire Banamex, published this Saturday The universal.
Now read:
BBVA will surprise seniors with new cards
AMLO’s YouTube channel surpasses famous streamers; This is how Ibai Llanos reacts
AMLO says yes to Elon Musk; Tesla plant will arrive in Monterrey