Atlas Arteria has ramped up efforts to buy back into the Chicago Skyway tollroad, while simultaneously fending off suitor IFM Investors.
Atlas Arteria has ramped up efforts to buy back into the Chicago Skyway tollroad in the United States, while simultaneously fending off suitor IFM Investors.
Canadian pension funds Canada Pension Plan Investment Board and OMERS Infrastructure, two of Skyway’s three owners, are looking to sell their combined 67 per cent controlling stake in the road. The company already owns the Dulles Greenway road in Virginia, from which it reported $US46.6 million EBITDA last year.Buying Skyway would be a significantly bigger bet. The road’s earnings are expected to be worth about $US100 million a year, while the deal could value it at about $US4 billion. [Bidders are vying for two-thirds of those amounts].
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