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Citi Infrastructure Investors, Abertis Infraestructuras and Criteria CaixaCorp Named Preferred Bidder on Pennsylvania Turnpike 75-Year Lease.

Publication: Business Wire
Publication Date: 19-MAY-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK & LONDON -- Citi Infrastructure Investors (CII), a unit of Citi Alternative Investments, a division of Citi, was named the preferred bidder on the 75-year lease of the Pennsylvania Turnpike. The bid presented by the consortium led by CII, Abertis Infraestructuras and Criteria CaixaCorp, the main shareholder of Abertis, amounts to $12.8 billion, and is one of the largest public to private partnership initiatives undertaken in the United States. Execution of the concession agreement is subject to enabling legislation and the pertinent authorizations from the Pennsylvania General Assembly. CII and Abertis will have joint management control.

"We are honored to be chosen to partner with the Commonwealth of Pennsylvania on this important project," said Michael Froman, Managing Director and Partner of Citi Infrastructure Investors. "We look...



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