March 29, 2017 / 6:21 PM / a year ago

Grupo Mexico says Florida railroad purchase offers U.S. exposure

MEXICO CITY, March 29 (Reuters) - Mexican mining, rail and infrastructure firm Grupo Mexico said on Wednesday its planned takeover of Florida East Coast Railway would allow the company to expand its exposure to the U.S. rail freight and dollarized markets.

In an analyst call, Grupo Mexico executives said they expected the $2.1 billion deal, which is subject to government approval, to close within 60-90 days.

They added that the company was always open to new acquisition opportunities, but had no imminent plans for a long-delayed initial public offering of its rail unit. (Reporting by Gabriel Stargardter and Veroinca Gomez)

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