Citigroup, Spanish Company Offer $12.8B for the Pennsylvania Turnpike
HARRISBURG, Pa. (AP) -- 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 75 years.
Barcelona-based Abertis Infraestructuras, Abertis partner Criteria CaixaCorp of Spain and Citi Infrastructure Investors offered $12.8 billion -- $700 million more than their nearest competitor, Gov. Ed Rendell told a Monday news conference.
Rendell said he was "strongly in favor of it," but the Legislature must approve any... Full Story
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