Transurban Group
(ASX:TCL) has reached an agreement to acquire the BrisConnections-owned AirportlinkM7 toll road for $1.87 billion.
Transurban chief executive Scott Charlton said the acquisition will enhance Transurban Queensland’s existing network in the state. The company will own and operate six assets in Queensland.
To assist purchase funding, the toll roads operator also announced it will undertake a fully underwritten pro rata accelerated renounceable 1 for 18 entitlement offer.
The offer will be open to eligible security holders at an offer price of $9.60 per security to raise $1.025 billion.
Transurban recorded a net loss of $373 million at 30 June 2015.
