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Friday, May 16, 2008
PA Turnpike bids: Transurban-GS, Abertis-Babcock-Citi

 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 by Joseph N. DiStefano @ 11:51 AM  Permalink | Post a comment
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About Joseph N. DiStefano
Your source for M&A, commercial real estate and private equity news in Philadelphia and nearby. By Inquirer business reporter Joseph N. DiStefano. Joe has worked for the Inquirer, mostly, since 1988. Last year he covered Citigroup for Bloomberg News. He's the author of Comcasted, a book about Philadelphia’s most-valuable company. He holds a degree in economics from Penn.