Macquarie Group Ltd. is exploring the sale of a portion of its stake in Maryland Express Lanes, a project designed to reduce congestion across key traffic arteries in the U.S. state, according to people with knowledge of the matter.
The Australian bank has begun soliciting interest from prospective buyers for part of its 40% stake, in a transaction set to value the project’s equity at about $1.25 billion, one of the people said. The firm owns the stake through Macquarie Capital, its principal investment and advisory arm.
Toll roads have long appealed to infrastructure investors due to the perceived stability of returns. Last year, Caisse de depot et placement du Quebec, or CDPQ, acquired a 15% stake in the Indiana Toll Road from IFM Global Infrastructure Fund.
Read more: BNN Bloomberg
