GMéxico Transportes’ $869 Million IPO

Cleary Gottlieb represented the initial purchasers Credit Suisse, BBVA, Morgan Stanley and Bank of America Merrill Lynch in the $869 million global initial public offering of leading Mexican railroad company GMéxico Transportes, a subsidiary of the largest mining company in Mexico, Grupo México.

The transaction consisted of an international offering in the United States pursuant to Rule 144A and in other countries outside the United States and Mexico in reliance on Regulation S, and a concurrent initial public offering in Mexico conducted through the Mexican Stock Exchange. The offering included a primary offering by GMéxico Transportes and a secondary offering by certain existing shareholders.

The transaction priced on November 9, 2017, and closed on November 14, 2017.

GMéxico Transportes operates Mexico’s largest railroad network, which spans 9,954 km of mainline covering 24 states and extends 629 km into Texas, and offers freight transportation and intermodal services to a broad spectrum of industries. The company also owns and operates one of the largest regional railroads in North America, Florida East Coast Railway.