Transurban looking to buy the rest of Sydney’s M5 West motorway

Company News

by Rachael Jones

Transurban (ASX:TCL) released their full year results today showing profit from ordinary activities after tax decreased 63.7 per cent to $170 million.

Revenue from ordinary activities increased 26.3 per cent to $4,166 million.

They are looking to raise $500 million through a fully underwritten institutional placement and up to $200 million through a share purchase plan to acquire the 34.62 per cent of the M5 West it does not already own for $468 million.

Shares in Transurban (ASX:TCL) are currently in a trading halt - Last traded at $15.23.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.