PA Turnpike bids: Transurban-GS, Abertis-Babcock-Citi
by Joseph N. DiStefano, Posted: May 16, 2008
The state expects the highway will fetch $12-18 billion, Financial Times reports here. Gov. Ed "Rendell, a Democrat, is under pressure to produce as high a bid as possible to overcome opposition to his plans." Spain's Cintra and Australia's Macquarie have dropped out of the running after Rendell demanded more money on the table earlier this week, FT adds, That leaves two remaining contenders: Australia-based Transurban Group, financed by Goldman Sachs Group Inc., and the Spanish-Australian-American combination of Babcock & Brown and Abertis Infraestructuras SA, backed by Citigroup, FT says.
Posted: May 16, 2008 - 11:51 AM
Joseph N. DiStefano
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