Macquarie Infrastructure May Sell Lusoponte

According to information released by a company spokesman, Macquarie Infrastructure Group is considering parting with its stake in Lusoponte, which holds and manages two toll bridges in Lisbon, Portugal. Macquarie, one of the largest toll-road operators in the world, has been considering the move for some time.

Macquarie Chief Executive John Hughes told investors on Monday, while speaking at a Merrill Lynch conference for Australian corporations, that Macquarie was “exploring options” for the Lusoponte assets after news of the Portuguese government’s recent approval for a third crossing over the Tagus River. Lusoponte represents only a small percentage of Macquarie’s holdings, amounting to less than 3 percent of Macquarie’s total asset list. In total, Macquarie’s assets number above $8.5 billion. The announcement was made after the stated value of Lusoponte fell by more than $19 million.

Macquarie has been making some bold financial moves as of late. The sale of the Lusoponte investment portfolio would be the latest in the series, which is seeking to better structure its balance sheet to reflect changes in the global real estate market. Macquarie recently failed to acquire what would have been a major jewel in its crown; The Pennsylvania Turnpike deal faltered before it could close. According to Hughes, “The security price will determine our expansion plans,” Hughes told Reuters in a sideline interview after the presentation. “We’re not de-levering the portfolio. We’re looking to see where mature assets can be sold for value, and we can demonstrate we have good value in our portfolio.”

Learn more at: www.macquarie.com.au