Atlas Arteria, an Australian toll road company, has agreed to buy a 67% stake in the Chicago Skyway from two Canadian pension funds for $2 billion.
The deal, announced Tuesday, would give the publicly traded firm majority control of the 7.8-mile elevated toll road connecting the Dan Ryan Expressway to the Indiana Toll Road on Chicago’s South Side, pending approval from regulators and the city.
Canada Pension Plan Investment Board and OMERS Infrastructure, which each bought one-third stakes in the Skyway six years ago, agreed to the sale Monday. Atlas Arteria, which owns toll roads in France, Germany and Virginia, will partner with Ontario Teachers’ Pension Plan, which is retaining its one-third stake.
