Genesee & Wyoming Announces Investment by Grupo Mexico in CG Railway Joint Venture
01.02.24
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Simpson Thacher is representing Genesee & Wyoming Inc. (“G&W”) in connection with a proposed majority investment by Grupo México Transportes (“GMXT”) in G&W’s CG Railway joint venture. The transaction is subject to customary closing conditions, including regulatory approvals. The financial terms of the transaction were not publicly disclosed.
CG Railway provides rail ferry service across the Gulf of Mexico between the ports of Mobile, Alabama, and Coatzacoalcos, Veracruz. G&W formed a joint venture with SEACOR Holdings Inc. (“SEACOR”) in 2017 to own and operate CG Railway. GMXT has announced its proposal to acquire the entirety of SEACOR’s interest in the joint venture as part of the transaction.
The Simpson Thacher team included Anthony Vernace and Quinn Cronan (M&A); Sophie Staples, Caroline Phillips and Michael Leitner (Tax); and Bill Sheehan and Christine Marshall (Credit).