SYDNEY (XFN-ASIA) - Macquarie Infrastructure Group said it now plans to buy back up to 1 bln aud of its securities after divesting 50 pct of its interests in its four US toll roads to Macquarie Infrastructure Partners for 825 mln usd or 1.05 bln aud.
The company said it will use 500 mln aud of the sale proceeds to increase its planned on-market buyback, which will run up to Aug 23, 2007, to a maximum 1 bln aud.
Macquarie Infrastructure has repurchased about 272 mln aud of its securities since the buyback started on Oct 3.
(1 usd = 1.28 aud)
bruce.hextall@xfn.com
blh/mas