bid

Florida DOT is giving bidders for the Alligator Alley (I-75) toll concession an extra ten days. Bidders have told FDOT they need more time beyond the latest May 8 bid deadline in order to put borrowings in place.

New deadline for bids is May 18.

The global financial crisis has prompted the postponement of the bid deadline for a toll concession to operate Alligator Alley (I-75) across southern Florida. Florida DOT, the concession grantor says the new deadline is May 8. Previously bids were due Jan 9.

A statement by FDOT says that the global financial uncertainty adversely affected the ability of potential bidders to move forward at this time. Potential bidders had asked for the delay.

Abertis is better off not having had its $12.8b accepted for the Pennyslvania Turnpike concession, according to a leading European concessions analyst. In an email this morning Steven Fernandez, who follows concession stocks for Exane BNP Paribas says that the deal was generally perceived in European investment circles as too expensive for Abertis' good.

Exane BNP Paribus is a large European securities firm head-officed in Paris.