Chicago Cancels $2.52 Billion Deal to Privatize MidwayAirport - WSJ.com: "The city of Chicago said Monday it had canceled the planned $2.52 billion sale of Midway airport, dealing a blow to efforts to attract more private capital for U.S. infrastructure projects.
The showpiece deal collapsed after the winning consortium failed to line up funding amid tight credit markets and competing prospects, notably the planned sale of London's Gatwick airport.
Midway had been expected to open up a new asset class for investors in the U.S., joining existing privatization deals for toll roads, parking and other publicly owned facilities."
-------------
Consolation prize: Chicago gets to keep the deposit, which was a cool $126 mill.
But I'm sure Mayor Daley will find something else to sell. The parks, maybe.
No comments:
Post a Comment