Transurban’s green light for WestConnex purchase

Company News

by Jessica Amir

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.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.