Source: Macquarie Infrastructure Company

Consolidates focus on U.S. infrastructure

NEW YORK, Aug. 24 /PRNewswire-FirstCall/ -- Macquarie Infrastructure Company (NYSE: MIC - News) announced that is has entered into definitive agreements to sell its 50% stake in the company that owns the Yorkshire Link toll road concession and its 17.5% interest in the South East Water clean water utility. Both the Yorkshire Link and South East Water are located in the U.K. Proceeds from the sales will be used to pay off debt that partially funded the equity portion of three U.S. infrastructure acquisitions made by MIC this year.

"Both Yorkshire Link and South East Water have provided MIC shareholders with a source of consistent income and exposure to important sectors within infrastructure," said Peter Stokes, Chief Executive Officer of Macquarie Infrastructure Company. "However, given our focus on owning and investing in infrastructure businesses in the U.S., our proven ability to source quality opportunities in the U.S. and the capital resources those opportunities require, the decision to sell these interests fits well with our core strategy."

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Posted by pichu at August 24, 2006 4:22 PM