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Australia's Macquarie Infrastructure jv submits bid for Mexican toll roads

19 Jul 2007

Paul Daniel, AFX News Limited

SYDNEY (Thomson Financial) - Australia's Macquarie Infrastructure Group (MIG) said on Thursday that its joint venture with Mexican infrastructure investor, Impulsora del Desarollo de America Latina (IDEAL), has submitted its bid for a 30-year lease of four toll roads in Mexico.

The Macquarie Bank Ltd-managed group said the roads are being acquired from Fideicomiso de Apoyo al Rescate de Autopistas Concesionadas (FARAC), a trust fund owned by the Mexican government.

FARAC is expected to announce the preferred bidder in early August.

MIG holds 40 percent in the partnership while IDEAL is the majority partner.

Analysts have said the Mexican government is planning to divest the toll roads in eight to 13 packages over the next six years.

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