Press Release

Proposed MIG restructure

New York, 30 October 2009

Macquarie Group Limited (Macquarie) notes the announcement by Macquarie Infrastructure Group (MIG) today outlining a proposed restructure of MIG’s portfolio into two separate listed entities so as to protect and enhance security holder value.

The restructure would allocate MIG’s assets based on their maturity and risk profile, and if approved by security holders will result in:

  • a standalone entity holding MIG’s interests in the 407 ETR and Westlink M7
  • a Macquarie-managed entity holding the remaining MIG assets, M6 Toll, APRR, Chicago Skyway, Indiana Toll Road, South Bay Expressway, Dulles Greenway, Warnow Tunnel and Transtoll
  • After providing adequate working capital for both entities it is estimated there will be surplus cash of $A226 million. A payment to MIG security holders of a special distribution of 10 cents per security would be made in addition to the normal interim distribution for FY 2010.

Macquarie notes that the MIG Boards intend to call a special general meeting of security holders in January/February 2010 to consider the proposal.

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