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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.