Transurban Group Buys Queensland Motorways for A$7.1 Billion
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A consortium led by Transurban Group agreed to buy Australia’s Queensland Motorways Ltd. for A$7.1 billion ($6.6 billion) to gain control of a toll-road network in Brisbane.
QIC Ltd., the Australian state-backed fund manager which owns Queensland Motorways, agreed to sell it to the group comprising Transurban, local pension fund AustralianSuper Pty and Abu Dhabi Investment Authority, it said in a statement yesterday. The deal is expected to be completed by the third quarter, QIC said.