Source: Bloomberg

By Ambereen Choudhury

March 14 (Bloomberg) -- A fund managed by Macquarie Bank Ltd., Australia's largest investment bank, agreed to buy National Car Park's off-street, airport and railway car parking businesses from 3i Group Plc for 790 million pounds ($1.5 billion).

The "business generates predictable and stable cash flows over the long term,'' said Macquarie Bank Executive Director Martin Stanley in an e-mailed statement today. "Car parks are an essential part of U.K. transport infrastructure.''

Macquarie Bank, the world's largest private manager of infrastructure, bundles assets into funds it oversees for investors and manages for a fee, including the Indiana Toll Road and the Chicago Skyway in the U.S.

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Posted by pichu at March 14, 2007 9:55 PM