Transurban (ASX:TCL) set to sell 50% of their Chesapeake assets to superfunds

Company News

by Melissa Darmawan

Toll road company Transurban (ASX:TCL) is set to sell their 50 per cent interest in their Chesapeake assets in the US to three superannuation funds.

The sale proceeds are set to be $2.8 billion from Australian Super, Canada Pension Plan and UniSuper.

There is also a potential earn-out of $93 million between financial years 2024-2026.

The assets consist of Transurban’s Greater Washington Area's operational assets which include express lanes and three projects in delivery and development.

Shares in Transurban (ASX:TCL) are trading 1 per cent higher at $14.24.