Phillytraffic Blog by GVF

As the Pennsylvania Turnpike bid process continues and the state is awaiting the winning bidder one of the largest investment firms has dropped out of the process.

Turnpike bid race narrows
Friday, May 16, 2008
By Joe Grata, Pittsburgh Post-Gazette
A financial consortium once thought to be the leading candidate to lease the Pennsylvania Turnpike has apparently dropped out of the running.
Spain-based Cintra and Australia-based Macquarie Infrastructure Group, which bought rights to the Chicago Skyway in 2005 and the Indiana Toll Road in 2006 for a total of $5.6 billion, have decided not to increase their bid for the state toll road being offered by Gov. Ed Rendell as a means of generating more funds for roads, bridges and transit.
Yesterday, Cintra-Macquarie informed its prospective investors to feel free to work with the remaining two investment consortiums: Spain-based Aberti, teamed with Babcock & Brown and Citi Infrastructure Investors; and New York-based Goldman Sachs, teamed with Transurban Group, an international toll road manager, and the Ontario Teachers Pension Plan.
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