Existing managers of Xpress Internacional S.A de C.V. acquired a 95% equity stake in Xpress Internacional and the trucking terminal in Laredo, Texas from U.S. Xpress Enterprises Inc. for $20 million.

Existing managers of Xpress Internacional S.A de C.V. acquired a 95% equity stake in Xpress Internacional and the trucking terminal in Laredo, Texas from U.S. Xpress Enterprises Inc. (NYSE:USX) for $20 million on January 18, 2019. The purchase price for the 95% stake in Xpress Internacional was $13 million, including $4.5 million in cash and an additional $8.5 million in cash to be paid over 8.5 years. The purchase price for the terminal was $7 million. Approximately 700 dry van trailers were also acquired as part of the purchase. The operational transition is expected to be complete during the second quarter of 2019. The transactions are part of a plan announced by U.S. Xpress Enterprises to exit its U.S. - Mexico cross border investment. U.S. Xpress Enterprises expects to repay debt with the cash proceeds from the sale. Existing managers of Xpress Internacional S.A de C.V. completed the acquisition of a 95% equity stake in Xpress Internacional and the trucking terminal in Laredo, Texas from U.S. Xpress Enterprises Inc. (NYSE:USX) on January 18, 2019.