Results tagged “leasingcityassests”

Mayor Daley's dream of privatizing Midway Airport has run into trouble as the nation's credit crisis has pushed the deal back at least six months, if not indefinitely. The April 6 closing date for the deal has been canceled, while the privately owned Midway Investment and Development Company, LLC, or MidCo for short, tries to line up more financing for the deal. The city is negotiating with the consortium backing MidCo is made up of Citigroup (yes, that Citigroup) unit Citi Infrastructure Investors, YVR Airport Services Ltd and John Hancock Life Insurance Co. to line up financing for the $2.52 billion 99 year lease deal. more ›