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Australian Firm Buying $2B Majority Stake in Chicago Skyway | Columbus Ohio Dump Trucks

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Canadian pension funds sell majority of Chicago toll road to Australian toll operator Atlas Arteria

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Atlas Arteria said it anticipates no major rehabilitation will be needed on the Chicago Skyway until about 2050.

Photo by David Wilson/Flickr

September 15, 2022

Australian toll road operator Atlas Arteria Ltd. has entered an agreement to acquire a majority stake in the Chicago Skyway for more than $2 billion.

Atlas Arteria would acquire a 66.67% stake in the toll road from two Canadian pension funds and establish a partnership with the Ontario Teachers’ Pension Plan, which will retain a 33.33% stake, the firm announced. The pension funds had acquired the Skyway in 2016 for $2.8 billion.

The 7.8-mile tolled Skyway was built in 1958. It connects the Indiana Toll Road to the Dan Ryan Expressway, with its route including a half-mile-long steel truss bridge. It became the first existing U.S. toll road to enter private hands in 2004 when Spanish firm Cintra Infraestructuras and the Australian Macquarie Group closed on a 99-year, $1.82-billion lease with the city of Chicago for the Skyway.

In a statement, Atlas Arteria CEO Graeme Bevans said the Skyway “is a high-quality, brownfield toll road situated in an essential transportation corridor, offering customers significant time savings and reliability versus alternate routes.”

Atlas Arteria’s portfolio also includes the Dulles Greenway in Virginia, plus toll roads in France and Germany. 

In a statement, Atlas Arteria said it does not anticipate any major rehabilitation columbus oh dump truck work would be needed on the Skyway until about 2050. 

The sale may face a challenge from one of Atlas Arteria’s largest investors. The firm IFM Investors said in a statement that it has “strong reservations” about any acquisition of the Skyway by Atlas Arteria. In a letter to the company, IFM leaders wrote that they would “consider all legal options available,” including an accelerated board transition, to oppose the deal.


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James leggate
James Leggate is an online news editor at ENR. He has reported on a variety of issues for more than 10 years and his columbus oh dump truck work has contributed to several regional Associated Press Media Editors and Murrow award wins.