Daily News Briefs, August 29, 2019

This is a Subscribers-Only area. If you are a subscriber, please login. If not...

Become a Subscriber Today »

Rival's Share Purchase Cost Ferrovial Control of 407 ETR

WorldHighways.com reports that Ferrovial lost control of 407 ETR, characterized as “one of the Spanish group’s star assets,” when a Canadian court denied Ferrovial a right of first refusal over SNC-Lavalin’s offer to sell part of its interest in the Ontario toll road concession. The article notes that Ferrovial’s co-shareholder, the Canada Pension Plan Investment Board, won the opportunity to purchase the SNC shares and thus raised its stake in the concession to just over 50 percent. Ferrovial, previously the largest stakeholder, still holds 43 percent of the shares.

407 ETR Concession Canada Canada Pension Plan Investment Board (CPPIB) Mergers and Acquisitions Ontario


Bridge Reopening Marks the Progress of OCTA's Huge I-405 Widening Project

Daily Pilot (via Los Angeles Times) has an update on the bridge rebuilds that are a major part of the Orange County Transportation Authority’s “epic $1.9-billion widening of the 405 Freeway.” The article notes that a new Slater Avenue bridge will reopen tonight after being closed for nearly a year. “It is the first bridge to be reconstructed as part of the ongoing effort to widen a stretch of the freeway. A total of 18 will be built, replaced or reconfigured throughout the course of the project.” The reconstructed segment of I-405 will reportedly have a new express lane, an HOV lane converted to express lane status and an additional general purpose lane in both directions.

405 Express Lanes (OCTA) California Los Angeles (CA) Metro Region Orange County Transportation Authority (CA)


These are just some of the toll industry developments TRN is following.

If you’re not already a Daily News Briefs subscriber and you want a complete picture of today’s news, click here or call 717-991-2823 for subscription information. If you’re a newcomer to TollRoadsNews.com, click here to get a free, 14-day trial subscription to Daily News Briefs.