Atlas Arteria's asset sale could relieve pressure on dividend, Citi says

Atlas Arteria

14/05/2026 21:18

** Citi says Atlas Arteria's ALX.AX sale of the Chicago Skyway at book value would ease distribution pressure and enable other toll road deals for the Australian toll operator

** ALX at its AGM on Wednesday said it was considering selling its 66.67% stake in the Chicago Skyway to unlock value from existing portfolio

** Citi says a sale deal would be positively received considering ALX's depressed share price before a recent takeover offer from IFM Global Infrastructure Fund

** Earlier this month, ALX rejected IFM's A$6.89 billion ($4.97 billion) bid, calling it "opportunistic" and "materially undervaluing" co

** Citi says ALX's sale of the asset would leave its investors with A$5.10 per share, the same as IFM's higher offer price

** Notes ALX's share price has been hit by French taxes and the Middle East conflict, distorting the base price for bid pricing comparison

** As of last close, stock down 2.3% so far this year

($1 = 1.3856 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))