Australian firm to run French toll roads?

25th August 2005, Comments 0 comments

SYDNEY, Aug 25 (AFP) - Australia's Macquarie Infrastructure Group (MIG), one of the largest private developers of toll roads in the world, Thursday said it had lodged bids for controlling stakes in two French toll road bodies.

SYDNEY, Aug 25 (AFP) - Australia's Macquarie Infrastructure Group (MIG), one of the largest private developers of toll roads in the world, Thursday said it had lodged bids for controlling stakes in two French toll road bodies.

MIG said it lodged the bids with its partner French construction and concessions group Eiffage Sa, for stakes in Autoroutes Paris-Rhin-Rhône and SANEF, both of which are being sold by the French government.

"MIG is committed to driving value from its existing international portfolio of roads and we continue to track new investment opportunities in the United States, Europe and Australia," chief executive Stephen Allen said in a statement.

MIG reported net income in the year to June of AUD $913.7 million (EUR 564 million) after a loss of AUD $251.5 million (EUR 155.2 million) in 2004.

The company said that equity rose AUD $1.28bn (EUR 79bn) in the January through June period of 2005 compared to a rise of AUD $416.1 million (EUR 257 million) the previous year.

"As the MIG business matures our active management model has been evident in the range of acquisition, divestment, refinancing and restructuring activities during the year," Allen said.

"The management team completed more than AUD $6.2bn (EUR 3.8bn) in transactions during FY05 and a further AUD $2.2bn (EUR 1.4bn) in transactions since balance date," said Allen.

Significant activity included gains from the sale of MIG's investment in Spanish toll-road operator Cintra for AUD$1.7bn (EUR 1.1bn) cash and the sale of Yorkshire Link in the UK for AUD $112 million (EUR 69 million).

Copyright AFP

Subject: French news, privatisation, French roads, toll roads, MIG, APRR, SANEF, Eiffage

 

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