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An Australian investment consortium that leases and operates U.S. toll roads has acquired Republican presidential candidate Rudy Giuliani’s Giuliani Capitol Advisors.
It’s the latest acquisition by Macquarie, which has been investing in leasing and running U.S. toll roads for some time and recently has branched out into other industries, including the purchase of American Consolidated Media, which publishes 40 community newspapers and shopping publications in nine Texas and Oklahoma communities, for $80 million.
According to Crain’s reporting in New York, terms of the Giuliani transaction were not disclosed, but experts estimated the business could be valued at $80 million to $100 million.
Giuliani Capital Advisors, which runs out of an office in Atlanta and has about 100 employees, was formed in 2004 with an investment estimated at $8 million to $10 million and the acquisition of Ernst & Young Capital Finance LLC.
The Macquarie Group, with some $140 billion under management worldwide, has been an active player in the move to lease U.S. highways to foreign investment capital firms.
The Federal Highway Administration has documented that Macquarie is a major player in the public-private partnerships that the FHWA is promoting as a future means of developing U.S. highway infrastructure.
Sal Costello, founder of TexasTollParty.com and a vocal critic of the Texas Department of Transportation, plans to build the Trans-Texas Corridor toll road parallel to Interstate 35. He told WND Giuliani “has to be viewed as just another PPP multi-national opportunist willing to sell out to an international toll road company that seeks to benefit financially at the expense of the taxpayer.”
Costello said he sees Giuliani preparing to focus on his presidential campaign, and he is concerned Macquarie is the investment firm Giuliani chose as an acquisition partner.
“Cutting deals and profiting tens of millions from one of the world’s largest toll road conglomerates has to be considered ‘getting tight’ in any circle,” Costello told WND.
“How many billions of dollars worth of our public highways will be converted to toll roads leased by foreign investment firms under a President Giuliani?” Costello asked.
WND reported Jan. 29 Macquarie had acquired American Consolidated Media, which publishes the Texas and Oklahoma periodicals. At that time, Costello told WND Macquarie “being allowed to buy these newspapers is just another con job. Macquarie is buying our news organization to hide the fact that they are stealing our land.”