MACQUARIE Infrastructure Group may end up as part of a web controlling more than $30 billion in French toll roads as a result of its bid for the AFS roadway network with French group Eiffage.
MIG and Eiffage are believed to have lodged a non-binding bid for at least one of three majority stakes in huge French toll road networks being sold off by the French Government.
Market watchers believe MIG has a good chance of winning the APRR, a 2260-kilometre network, which has a market capitalisation of about $8.6 billion, in partnership with Eiffage, a major French construction company.
The world's largest construction group, Vinci, is bidding on the largest of the three networks, ASF, which is valued at $18 billion by the markets.
If the MIG-Eiffage consortium wins APRR, it will have a tie-up with Vinci. Eiffage is a 17 per cent holder in another listed French toll road network, Cofiroute, in which Vinci has a 65 per cent holding. This would give MIG a tie-in with a massive $30 billion-plus road network.
The French Government has not produced a detailed plan of how the road sale will be completed.
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AdvertisementMIG is expected to contribute $2-$3 billion in equity to the deal if its consortium
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