We recently had a reader ask “who owns Grupo México, S.A. de C.V.?”
Grupo México, S.A. de C.V., Mexico’s largest mining corporation and operator of the nation’s largest rail fleet, completed its acquisition of Miami-based Florida East Coast Railway Holdings (FEC) for $2.1 billion.
(FEC’s 351 miles of tracks stretch from Miami to Jacksonville, FL)
So who owns Grupo México, S.A. de C.V.?
According to 4-traiders.com the largest shareholder is Germán Larrea Mota-Velasco.
Germán Larrea Mota Velasco has an estimated net worth of $8.7 billion as of April 2016, according to http://www.forbes.com. He is the second richest person in Mexico and 30th in the world.
Also according to http://www.forbes.com., Germán Larrea Mota Velasco is “Mexico’s most enigmatic and reclusive billionaire. He despises the spotlight that goes along with being Mexico’s second richest person, behind telecom mogul Carlos Slim Helú.”
The latinpost.com describes him this way: “Despite being listed as one of the richest persons in the world, mining mogul Germán Larrea Mota-Velasco still has this amazing characteristic of hating to be in the spotlight.
Having privacy while becoming a great person is difficult to achieve but Germán has nailed it. In fact, he had kept his privacy and mystery for years that only few people know what he really looks like. Basic facts about him are also sketchy. Even Wikipedia doesn’t have that much information about him. Because of that, the Mexico’s top corporate elite was able to travel and go to places incognito whenever he wanted to, experiencing a certain freedom to roam places unlike other business tycoons.”
Once again, according to 4-traders.com, other significant shareholders include:
Germán Larrea Mota-Velasco 1,441,000,000 18.5%
The Vanguard Group, Inc. 115,602,364 1.48%
OppenheimerFunds, Inc. 99,463,935 1.28%
BlackRock Fund Advisors 89,858,658 1.15%
FIL Investment Advisors (UK) Ltd. 82,769,678 1.06%
Dimensional Fund Advisors LP 80,765,662 1.04%
Norges Bank Investment Management 59,522,191 0.76%
GBM Administradora de Activos, SA de CV SOSI 47,866,196 0.61%
Impulsora y Promotora Blackrock México SA de CV 44,791,181 0.58%
Impulsora de Fondos Banamex SA de CV 40,583,691 0.52%
Despite the above breakdown, latinpost.com wrote that: “Germán and his family own 51 percent of their mining company which has 13 operating mines in Peru, Mexico and Chile. Aside from their copper and mining business, Germán is also the owner of about 5,000 kilometers or 71 percent of Mexico’s railroads which runs across the country.”
Grupo México, S.A. de C.V. is a holding company. It’s rail transport division, Grupo Ferrocarril Mexicano (Ferromex) operates the nation’s largest rail fleet, with nearly 5970 miles of tracks and 20,000 carloads along the border with the United States, four seaports on the Pacific Ocean and one more on the Gulf of Mexico. Currently, Grupo Mexico owns 74% and Union Pacific Corporation owns 26% of the company. (Source: Wikipedia)