Transurban reaches financial close on Canadian toll road acquisition

Company News

by Anna Napoli

Toll road operator, Transurban (ASX:TCL) has announced its reached financial close on the acquisition of the A25 toll road in Montreal.

CEO Scott Charlton says the purchase marks an important step for the business as it establishes its second market in North America.

The company announced the $840 million acquisition of the Canadian toll road in March.

The A25 is a 7.2 kilometre toll road and bridge connecting Northern Montreal to commercial and residential areas.

Back at home the ACCC is continuing to review the proposed acquisition by a Transurban led consortium of a 51 per cent interest in the WestConnex.

Shares in Transurban (ASX:TCL) closed 1.43 per cent lower at $11.48 yesterday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.