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Puerto Rico to Meet Goldman, Morgan Stanley Groups on Road Lease

Puerto Rico will begin one-on-one meetings with four investor groups, including Goldman Sachs Group Inc. and Morgan Stanley, interested in leasing two toll roads under its plan to close a budget deficit that led to a credit rating lower than any state.

The U.S. territory chose the four bidders in September and expects their final proposals by March 7, said David Alvarez, executive director of the Public-Private Partnerships Authority. It sent a draft concession agreement and request for proposals to the groups on Nov. 19, he said. The transaction should close by mid-June after the meetings that begin tomorrow in New York, he said.