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    Monday, November 23, 2009

    Macquarie Selling Cooling Plants Stake

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    By Steve Goldstein
    MarketWatch Pulse
       

      LONDON -- Macquarie Infrastructure Co. said that it has entered into an agreement to sell a 49.99% interest in its district energy business, Thermal Chicago, to an affiliate of The John Hancock Life Insurance Company for $29.5 million. The implied valuation for the whole of the district energy business equates to an 11.6 times multiple of trailing twelve-month enterprise value to EBITDA. The district energy business comprises five cooling plants in downtown Chicago, a standalone facility outside of the central business district and a separate operation in Las Vegas.

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