Republican presidential candidate Rudy Giuliani has sold his consulting firm to the Australian company involved in the 75-year lease of the Indiana Toll Road and the privatization of other U.S. infrastructure.
The New York Times reported that Macquarie Bank of Australia - parent company of Macquarie Infrastructure Group - has acquired Giuliani Capital Advisors.
Giuliani reportedly profited between $70 million and $90 million from the sale of the consulting and investment company he founded in 2004. A campaign spokeswoman said in a statement that the transaction was part of Giuliani's plan to focus on his campaign.
Meanwhile, Macquarie continues to reign as a big player in the toll road business.
When Illinois and Indiana rolled out the red carpet to private investors, Macquarie and a Spanish company Cintra took them up on the invitation and shelled out billions.
The two companies combined in 2005 to pay the state of Illinois $1.83 billion to lease the eight-mile Chicago Skyway and keep the tolls for 99 years. The same consortium paid the state of Indiana $3.85 billion in 2006 for the rights to the 157-mile Indiana Toll Road.
In a move in January to broaden its investment base in the U.S., Macquarie snapped up 40 community newspapers in Texas and Oklahoma.
- By David Tanner, staff writer
