Transurban wins bid for majority WestConnex ownership

Company News

by Rachael Jones

Transurban (ASX:TCL) is ready to sign the WestConnex deal as it announce today a planned equity raising of $4.2 billion.

The financial close of the acquisition is expected late September.

Transurban along with AustralianSuper, CPPIB and Tawreed Investments as Sydney Transport Partners have executed an agreement for a 51 per cent equity stake in WestConnex from the NSW Government for $9.3 billion.

They also plan to raise $600 million through a placement to certain STP consortium members.

Shares in Transurban, (ASX:TCL) are on trading halt, last traded at $12.06
 

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