Spain’s Globalvia de Infraestructuras and Australia’s Macquarie Group, originally bidding separately to buy the controlling interest in Itinere, S.A., a Spanish toll road operator, are reported to be joining forces to structure a bid that will top Euro 1 billion (US$1.07 billion). They hope to outbid a trio of rival international investment funds, Dutch APG Asset Management, Canadian PSP investments, and Singapore sovereign fund GIC, who are reportedly putting together a competing proposal.
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