Mexico Transportes, the largest railroad company in Mexico, has completed its purchase of Florida East Coast Holdings Corp., the owner of the Florida East Coast Railway, paying more than $2 billion. Jones Day represented the largest lender, and Skadden, Arps, Slate, Meagher & Flom, Dechert and Galicia Abogados Grupo also advised on the transaction.
Under the deal, which closed July 7, Grupo Mexico Transportes, the transportation business unit of Grupo Mexico, S.A.B. de C.V., obtained a $1.55 billion unsecured bridge loan from BBVA Bancomer and Credit Suisse Securities. BBVA is also the administrative agent representing both lenders in managing the loan.
