Macquarie Infrastructure Company Closes Sale of Minority Stake in District Energy Business

NEW YORK--(BUSINESS WIRE)--Macquarie Infrastructure Company (NYSE:MIC) announced that it has achieved financial close involving the sale of a 49.99% interest in its district energy business, Thermal Chicago. The sale of the minority interest to The John Hancock Life Insurance Company (and affiliates) for $29.5 million was completed on December 23, 2009.

“The sale of a minority interest in our district energy business was a sensible and logical means of strengthening MIC’s balance sheet.”

The proceeds will be available to repay a portion of MIC’s holding company debt.

James Hooke, Chief Executive Officer of Macquarie Infrastructure Company, said “The sale of a minority interest in our district energy business was a sensible and logical means of strengthening MIC’s balance sheet.”

”We’re pleased that the City of Chicago has provided its consent for the sale which allows us to move forward in the new year with our partner, John Hancock,” Hooke added.

The Company’s 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. The Chicago plants produce chilled water for use in cooling approximately 100 high rise buildings. The smaller Las Vegas facility provides cold and hot water for cooling and heating to a number of Las Vegas buildings.

About Macquarie Infrastructure Company

Macquarie Infrastructure Company owns, operates and invests in a diversified group of infrastructure businesses providing basic, everyday services, to customers in the United States. Its ongoing businesses consist of three energy-related businesses including a 50% indirect interest in a bulk liquid storage terminal business (International-Matex Tank Terminals), a gas production and distribution business (The Gas Company in Hawaii) and a controlling interest in a district energy business (Thermal Chicago) as well as an aviation-related airport services business (Atlantic Aviation). The Company is managed by a wholly-owned subsidiary of the Macquarie Group. For additional information, please visit the Macquarie Infrastructure Company website at www.macquarie.com/mic.

“Macquarie Group” refers to the Macquarie Group of companies, which comprises Macquarie Group Limited and its worldwide subsidiaries and affiliates. Macquarie Infrastructure Company LLC is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and its obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of Macquarie Infrastructure Company LLC. MIC-G