In late August 2005, Macquarie Infrstructure Trust (MIG) entered into an agreement to acquire an 86.7% economic interest in TRIP II, which included 0.1% acquired via a 100.0% direct interest in the General Partner which has day-to-day responsibility for the management and operation of the concession.
The initial investment comprised two subordinated loans secured against 86.6% of the limited partner interests in TRIP II, as well as two long-dated call options to acquire the 86.6% interests. These interests are currently held by the Shenandoah Group and AIE LLC. This investment reached financial close on 9 September 2005.
On 29 September 2005, MIG acquired the remaining 13.3% direct interest in TRIP II from Kellogg, Brown and Root (KBR). This acquisition resulted in MIG holding an estimated 100.0% economic interest in the Greenway.
In December 2006, MIG divested 50.0% of its interests to Macquarie Infrastructure Partners (MIP).
MIG’s remaining estimated 50.0% economic interest in the Greenway was then assumed by ALX on 2 February 2010, as part of the MIG demerger.
In May 2017, ALX acquired the remaining estimated economic 50.0% interest from MIP, increasing ALX’s estimated economic interest to 100.0%.