Macquarie in bidding for $3b toll road

SYDNEY - Australia's Macquarie Infrastructure Group and Spanish motorway operator Cintra have lodged a bid for the Indiana Toll Road with the US state seeking offers of more than US$2 billion ($3 billion).

MIG, one of the world's largest private toll-road owners and managed by Australia's biggest investment bank Macquarie Bank, said yesterday it had lodged a binding offer with Cintra to buy the 253km road in a consortium known as Statewide Mobility Partners.

MIG and Cintra are equal equity partners in the bid. The winning bid is expected to be announced this week.

An Indiana government official earlier this month said the state was hoping to attract three to 10 bidders.

- REUTERS