Atlas Arteria, an Australian toll road company, has agreed to buy a 67% stake in the Chicago Skyway for $2 billion
Cars travel through the Chicago Skyway's toll plaza Oct. 25, 2018, in Chicago.
Built by the city in 1958, the six-lane Chicago Skyway features a steel bridge spanning the Calumet River, and a congestion-easing shortcut to Indiana and points east. The city operated the Skyway until 2005, when it leased operations to a private company under a 99-year agreement, marking the first privatization of an existing toll road in the U.S.In 2016, the three Canadian pension funds bought Skyway Concession, the toll road’s private operator, for $2.8 billion.
The investment firm issued a statement Tuesday following the announcement that Atlas had agreed to purchase the Skyway over its objections.
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