Kansas City Southern gets bank approval for NAFTA Rail transaction

By Sara Rosenberg

New York, April 29 - Kansas City Southern received approval from its bank group to complete the transactions necessary to place The Kansas City Southern Railway, the Texas Mexican Railway Company and TFM, SA, de CV under the common control of a single transportation holding company called NAFTA Rail. JPMorgan Chase Bank is the agent for the bank group.

Specifically, the transactions approved include: a investment by Kansas City Southern (Nafta Rail) in further equity interests of Grupo TFM; an investment by Kansas City Southern (Nafta Rail) in equity interests representing 51% of Mexrail's issued and outstanding capital stock; and use of Kansas City Southern cash to acquire Mexrail.

Kansas City Southern is a Kansas City, Mo. owner and operator of a North American rail network.

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