Grupo México Transportes to Delist From BMV

Grupo México Transportes is preparing to delist from the Mexican Stock Exchange (BMV), a move that reflects a strategic shift rather than a retreat. The decision is aligned with the company’s long-term growth strategy and desire for greater operational flexibility. Shareholders will vote on the proposal at an extraordinary meeting scheduled for June 27. 

Since the announcement, the company’s stock has experienced increased volatility, catching investors off guard. As one of Grupo México’s most visible and strategically important divisions, the transport unit plays a critical role in Mexico’s industrial and logistics networks. In 1Q25, Grupo México Transportes reported a 20.8% drop in net profit. In contrast, the group’s mining and infrastructure units posted growth of 27.3% and 32.4%, respectively. The broader rail sector also showed signs of pressure, with volumes declining 9.6% year-on-year between January and March, largely due to softer trade activity with the United States.

According to market analysts, the delisting reflects a broader repositioning. Renato Campos, Analyst, Squared Financial, said the move could provide relief from short-term market expectations and create space for internal restructuring. “This could give the company room to restructure or reallocate resources without the immediate scrutiny of public shareholders,” he noted.

Delisting may also reduce regulatory and disclosure burdens, offering greater agility. For family-controlled groups like Grupo México, capital increasingly comes from retained earnings, private financing, or strategic alliances, rather than public offerings.

Asset Divestment Supports Realignment

This strategic shift is further evidenced by Grupo México’s recent decision to divest its highway assets. On June 13, the company announced the sale of approximately 80% of its shares in Concesionaria de Infraestructura del Bajío (CIBSA) for MX$7.7 billion (US$406.89 million), while retaining an 18.69% stake to support future infrastructure and investment projects.

As part of the transaction, Grupo México will also divest around 99% of Operadora de Infraestructura del Bajío (OIBSA), to be owned by CIBSA through a corporate restructuring before closing, as well as all shares of Concesionaria Autopista Silao.

Marcos Martínez, President, BMV Group, acknowledged that while delistings are not ideal, they can offer financial benefits to companies during periods of low market valuations. “Obviously, we do not like delistings, but when valuations are low, companies do what is best for them,” said Martínez at the 14th Issuers Forum in the Riviera Maya. “Every time you think it is over, someone finds a new opportunity that works better for them.”