Transurban Group
(ASX:TCL) has approved the transfer of its Pocahontas 895 toll road in the United States to the asset lenders.
Transurban says discussions have begun with the lenders to the Virginian road, though the final structure of a deal hasn’t been finalised.
The group says it’s aiming to complete the transfer by October.
Transurban reiterated the issues facing Pocahontas 895 are limited to the asset and do not reflect any broader concerns across the rest of its portfolio.
The company says all of Transurban’s other operating assets remain robust with strong expectations for continued growth and free cash generation.
Transurban generated a net profit of $81.1 million in the first half of the current financial year.
