MADRID/NEW YORK (Reuters) - A consortium led by Spanish infrastructure company Abertis (ABE.MC: Quote, Profile, Research) was named preferred bidder on Monday in the largest U.S. toll road deal ever after offering $12.8 billion to lease the Pennsylvania Turnpike.

Pennsylvania Gov. Ed Rendell said Citigroup (C.N: Quote, Profile, Research) was also part of the group, which had pledged total investment on the road of $14.5 billion over the 75-year lifetime of the contract. However, the state legislature, which rejected previous privatization plans, still must approve this deal.

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Posted by boyang at May 20, 2008 10:29 PM