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26.6.2003: Meldung: Kansas City Southern: NAFTA Rail Proposal Passes Major Regulatory Review
KANSAS CITY, Mo.--June 25, 2003--Kansas City Southern (KCS) (NYSE: KSU - News) has received formal written notice that Mexico"s Competition Commission (Commission) has approved the proposed NAFTA Rail transaction. After a detailed review of the proposal, the Commission found that NAFTA Rail fully complies with Mexico"s competition guidelines, and would in no way impede open competition within the transportation sector. The Commission granted its approval without conditions. "We are pleased with the Competition Commission"s approval of NAFTA Rail," stated Michael R. Haverty, chairman, president, and chief executive officer of KCS. "NAFTA Rail will in fact enhance competition in Mexico and the United States, as it will provide North American shippers with another viable shipping alternative."
Under the proposed transaction announced on April 21st, TFM, S.A., de C.V. (TFM), The Kansas City Southern Railway Company (KCSR), and the Texas Mexican Railway Company (Tex-Mex) would be placed under the common control of a single transportation holding company, NAFTA Rail.
In addition to the Competition Commission, NAFTA Rail needs the regulatory approval of Mexico"s Foreign Investment Commission, a decision from which is expected by the end of July. The common control of KCSR and Tex-Mex under NAFTA Rail will also require the approval of the Surface Transportation Board (STB) in the United States. The STB has announced that it will rule on the KCSR-Tex-Mex transaction by October 17, 2003.
KCS is a transportation holding company that has railroad investments in the United States, Mexico, and Panama. Its primary holding is KCSR. KCS"s rail holdings and investments are primary components of a NAFTA Railway system that links the commercial and industrial centers of the United States, Canada and Mexico. KCS is headquartered in Kansas City, Missouri.
Contact:
Kansas City Southern
William H. Galligan, 816/983-1551
[email protected]
Source: Kansas City Southern
Under the proposed transaction announced on April 21st, TFM, S.A., de C.V. (TFM), The Kansas City Southern Railway Company (KCSR), and the Texas Mexican Railway Company (Tex-Mex) would be placed under the common control of a single transportation holding company, NAFTA Rail.
In addition to the Competition Commission, NAFTA Rail needs the regulatory approval of Mexico"s Foreign Investment Commission, a decision from which is expected by the end of July. The common control of KCSR and Tex-Mex under NAFTA Rail will also require the approval of the Surface Transportation Board (STB) in the United States. The STB has announced that it will rule on the KCSR-Tex-Mex transaction by October 17, 2003.
KCS is a transportation holding company that has railroad investments in the United States, Mexico, and Panama. Its primary holding is KCSR. KCS"s rail holdings and investments are primary components of a NAFTA Railway system that links the commercial and industrial centers of the United States, Canada and Mexico. KCS is headquartered in Kansas City, Missouri.
Contact:
Kansas City Southern
William H. Galligan, 816/983-1551
[email protected]
Source: Kansas City Southern