Skip to content
Subscriber Only

Transurban Group Buys Sydney Tollroad Stake for $6.7 Billion

  • Transurban to raise A$4.8 billion to help fund acquisition
  • New motorway connects fast-growing Sydney suburbs to CBD
Updated on

A Transurban Group-led consortium agreed to buy 51 percent of Sydney’s WestConnex toll road for A$9.26 billion ($6.7 billion), doubling its network in Australia’s largest city.

Transurban will raise A$4.2 billion in a rights issue to help fund the acquisition, and a further A$600 million from other members of the bidding group, the Melbourne-based company said in a statement. The shares will be sold at A$10.80 each, a 10 percent discount to the latest closing price.