$12.8 Billion Top Bid for Pa. Turnpike

Summary


HARRISBURG, Pa. - A Spanish company and a unit of Citigroup Inc. teamed up to submit the largest bid for the right to lease the Pennsylvania Turnpike for the next 75 years.

Barcelona-based Abertis Infraestructuras, Abertis investor Criteria CaixaCorp of Spain and Citi Infrastructure Investors offered $12.8 billion, beating their nearest competitor by $700 million, Gov. Ed Rendell said Monday.

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Extract


$12.8 Billion Top Bid for Pa. Turnpike

Rendell described himself as "strongly in favor of it." But the Legislatur...

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