Australian Bank Buying Indiana Toll Road

LATEST AUSTRALIAN BUSINESS NEWS

The continuing expansion of Australia’s Macquarie Bank into infrastructure projects around the world continues. Macquarie, along with its Spanish partner Cintra have now been named as the preferred bidder for a further US toll road. After having purchased, in partnership, the Chicago Skyway, the bank now seems set to hold a 50% stake in the Indiana Toll Road.

Press reports indicate that the consortium has offered $US3.85billion for a 75 year concession over the toll road.

The Governor of Indiana has expressed surprise at the size of the bid. This comes as other US state legislatures debate the cost benefit to their constituents of selling off state owned assets, especially the concern that government control over tolls will be removed and that “monopoly” roads used widely by the community, will be subjected to substantial annual toll increases.

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David

david.taylor@agarcarlyon.com