UP to Double Mexican Rail Stake

OMAHA, Neb. (AP) — Union Pacific Railroad has agreed to double its stake in a Mexican Railroad.

The Omaha-based railroad said Wednesday it will buy 13 percent of the Grupo Ferroviario Mexicano, the parent company of Ferrocarril Mexicano.

The purchase increases Union Pacific's share of the company to 26 percent. UP will buy the stake held by Empresas ICA, a Mexican engineering and construction company.

The remaining 74 percent is held by Grupo Mexico, a Mexican copper producer.

Terms of UP's purchase of ICA's share was not disclosed.

ICA said the sale was part of a corporate restructuring that would allow the company to focus on its core business.