Spain's CAF Cuts Stake in Mexican Rail Venture

Spain's CAF Cuts Stake in Mexican Rail Venture

Mexico Europe M&A

Spain’s rail operator Construccion y Auxiliar de Ferrocarriles (CAF) has reduced its stake in Mexico’s Ferrocarriles Suburbanos (FFSS) project to 43% from 85% in a restructuring that increased the Mexican state’s participation in the venture. Through a capital increase, CAF managed to decrease its stake, while Mexico’s Fondo Nacional de Infraestructura (Fonadin) came in as a shareholder with 49%, CAF says. CAF’s stake reduction takes place in the form of an adjustment of a credit balance in favo

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