Miami Herald: Grupo Mexico to buy Florida rail line for $2.1 billion


All Board Florida’s bid to get high-speed trains from Miami to Orlando begins to take shape in downtown Miami. (Source: The Miami Herald)

Mexican mining and rail conglomerate Grupo Mexico says it has reached an agreement to buy Brightline parent Florida East Coast Railway Holdings Corporation for $2.1 billion from Fortress Investment Group.

The sale will not affect Brightline, the Miami-to-Orlando passenger train slated to begin service this summer, according to the South Florida Business Journal.

The line serves Miami and Palm Beach, and as its name suggest, it runs up Florida’s east coast.

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