No longer a dream deferred: KCS, TMM finally come to terms on TFM deal

摘要

It appears as if Mike Haverty's dream of creating a "NAFTA Railway" finally is coming to fruition. After more than a year of legal and other wranglings, and nearly two years since reaching a purchase agreement for TFM SA de C.V., Kansas City Southern and Grupo TMM S A. last month announced they'd finally agreed to an amended TFM acquisition agreement. Under the deal, TMM will sell its 51 percent stake in TFM to KCS for $200 million cash, 18 million shares of KCS common stock, a $47 million, two-year promissory note, and up to $110 million in cash and KCS common stock after TMM resolves a VAT Claim with the Mexican government.