Transurban Group (ASX:TCL) has acquired Queensland Motorways for $7.05 billion.
The toll road operator has a 62.5 per cent interest in the project with both Australian Super, and Tawreed Investments, a subsidiary of Abu Dhabi's investment authority, holding the remainder.
CEO Scott Charlton says the acquisition is consistent with the group’s objectives of continuing to grow distributions for security holders and enhancing the group’s assets portfolio.
The company is also planning to raise money through an entitlement offer to fund its contribution to the consortium.
Transurban reported a net profit of $81 million in the first half of the 2014 financial year.
