Grupo México Transportes’ Shareholders Approve BMV Delisting

Shareholders of Grupo México Transportes (GMXT) approved the company’s plan to delist from the Mexican Stock Exchange (BMV). Analysts suggest that delisting could offer the company greater flexibility due to reduced regulatory and compliance burdens.

The decision, backed by 97.4% of shareholders in an extraordinary meeting on June 27, sets the stage for the transportation division of Grupo México to exit the public market after seven years. The company announced that following the approval, it will proceed with a public acquisition offer to buy back its shares. This next step is contingent upon authorization from the National Banking and Securities Commission (CNBV), after which the company will cancel its registration in the National Securities Registry and its listing on the BMV.

During the assembly, Grupo Carso stated its intention to remain a shareholder following the cancellation and will therefore not participate in the public acquisition offer.

GMXT is the largest rail operator in Mexico, with its Ferromex division managing over 10,000km of track that connect the country's main industrial zones with eight ports and six border crossings. The company also operates the Ferrosur line, which serves key ports in the Gulf of Mexico and the Pacific, as well as the Texas Pacifico railway in the United States and the Florida East Coast Railway.

Reasoning for Delisting 

According to market analysts, the delisting reflects a broader repositioning, as reported by MBN. 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.