Transurban pays $11bn for Sydney toll road
Transurban has paid $11.1 billion for the NSW government's stake in Sydney toll road, WestConnex. Photo: AAP
A Transurban joint venture has paid more than $11 billion for the NSW government’s 49 per cent stake in Sydney toll road WestConnex.
The company revealed on Monday that its Sydney Transport Partners joint venture had taken full ownership of the 70-kilometre network of roads, tunnels and bridges.
Transurban is selling $4.22 billion in securities to help fund the purchase.
The others involved in the joint venture are AustralianSuper, Caisse de depot et placement du Quebec, Canada Pension Plan and Tawreed Investments.
Transurban securities were paused from trading on the ASX. They last swapped for $14.18.
Finance News
Health industry a honeypot for criminal hackers
Finance News
PM joins sellers chasing higher property prices
Finance News
Dental ads spruiking early super withdrawals
Finance News
How to save money when heating your home
Finance News
What we know so far about the federal budget
Finance News
Brisbane eyes No.2 spot amid property divide
Finance News