Transurban (ASX:TCL) and its consortium of investors have been given the green light to purchase a majority stake in WestConnex.
It comes as Transurban, a part of the Sydney Transport Partners, was given Foreign Investment Review Board (FIRB).
The parties are planning to buy 51 per cent of the 33-kilometre motorway.
Transurban, is snapping up a 50 per cent stake, of the consortium’s total purchase of $9.3 billion.
At the same the time, the toll road operator wrote to shareholders about taking part in its $4.2 billion equity raising.
The purchase should be completed in late September.
Transurban (ASX:TCL) shares last traded at $12.06.