Operation of the Indiana Toll Road has officially changed hands.
The Indiana Toll Road Concession Company, which took over operations of the toll road under a lease agreement in 2006, filed for bankruptcy in September of last year.
IFM Investors, an Australian company a special committee of investors selected from among four finalists, now assumes management of the 156-mile stretch of highway across northern Indiana.
Jim McGoff, the state's Toll Road oversight director, says Hoosiers can expect "business as usual" in operations of the highway connecting Interstate 90 in Chicago to the Ohio Turnpike.
Gov. Mike Pence says the state worked its way through the bankruptcy process the way he hoped it would.
"And that was that it would be business as usual on the road and that we would be able to move into a new operator that would maintain both the quality of services, the quality of the infrastructure, and also the personnel that are operating the Toll Road."
The operator's new CEO Ken Daley says IFM will dedicate $260 million over the next five years for bridge and road repairs, solving minor environmental issues and improving rest stops.
Correction: This story originally stated that the state of Indiana selected IFM Investors. The company was actually selected by a special committee of investors.