Copying and distributing are prohibited without permission of the publisher
The MIG one
01 November 2002
In six years Macquarie Infrastructure Group (MIG) has grown into the world's third largest private toll road operator, and a nice earner for investors. Rosie Irving asks managing director Anthony Kahn where the acquisitive operator will strike next.
Read more:
[BOT]
[infrastructure finance]
For Anthony Kahn, managing director of Macquarie Infrastructure Group (MIG),"the real skill in investing in toll roads is working out how to structure the SPV and the investment you make in such a way that you maximise cashflow returns to shareholders." It is a strategy that has paid off. Since being listed on the Australian Stock Exchange in December 1996 MIG has snatched up some very desirable toll roads worldwide through strategic investments and acquisitions. It is now the third largest private owner and developer of toll roads in the world, with a funding base of A$5.5 billion ($3.01 billion), just behind rivals Autostrade (Italy) and ASF (France).
MIG is managed and wholly owned by Macquarie Bank and has its headquarters in Sydney. MIG is classed as a stapled security – two investments that are quoted as one and traded as a single share. A stapled security consists of a...
Take a free website trial to read this article. It’s easy to get a trial – just follow this link or email info@projectfinancemagazine.com.
Or, if you’re a subscriber or have an active trial, simply log in below to read the article.
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Subscribe
Free trial
Taking a free trial will give you access to the latest news and analysis, as
well as the online deals database, BenchBase. Start your free trial today.
Free Trial