Dana Levenson, the former chief financial officer who engineered 2004 Skyway transaction, argued the latest sale shows how good a deal it really was."What are the implications for the value of the Skyway when it comes back to the city in 2104? Based on the equity value of $3 billion, it's gonna be north of $15 billion in value," Levenson said."If you do an inflation-adjusted calculation, that sale was superb. "Levenson pointed to what he called the "multiple of earnings" being paid on the most recent sale. It's "30 times earnings," compared to "an unheard of 50 times earnings" when Chicago unloaded the Skyway." That tells me that the Skyway was sold [by the city] for a very good price," he said. Levenson said he has "no regrets whatsoever," pointing to the "tremendous" financial benefits to the city "that continue to be tremendous today."
In 2004 drivers paid a toll of $2. Now paying $5.90 and no doubt Atlas will match inflation with a price rise well into $6 plus
ALX Price at posting:
$6.65 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)