News: TCL Transurban-led Consortium Executes Deal To Acquire 51% Of WestConnex For $9.3 Bln

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    Aug 31 (Reuters) - Transurban Group (TCL) :

    • ANNOUNCES WESTCONNEX ACQUISITION WITH $4.2 BILLION EQUITY RAISING AND FY19 DISTRIBUTION GUIDANCE MAINTAINED AT 59.0 CPS
    • CO, AUSTRALIANSUPER, CPPIB AND TAWREED INVESTMENTS LIMITED EXECUTED AN AGREEMENT TO ACQUIRE A 51 PCT EQUITY STAKE IN WESTCONNEX FOR $9.3 BILLION
    • TO RAISE $4.2 BILLION VIA 10 FOR 57 ACCELERATED PRO RATA RENOUNCEABLE ENTITLEMENT OFFER WITH RETAIL ENTITLEMENTS TRADING
    • TO ALSO RAISE $600 MILLION VIA PLACEMENT TO CERTAIN STP CONSORTIUM MEMBERS
    • FINANCIAL CLOSE OF ACQUISITION EXPECTED IN LATE SEPTEMBER, SUBJECT TO FOREIGN INVESTMENT REVIEW BOARD
    • TRANSURBAN (50 PCT), AUSTRALIANSUPER (20.5 PCT), CPPIB (20.5 PCT), TAWREED INVESTMENTS (9 PCT), AS SYDNEY TRANSPORT PARTNERS (STP) EXECUTED DEAL
    • PLACEMENT OF $600 MILLION TO AUSTRALIANSUPER & TAWREED INVESTMENTS LTD
 
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Last
$13.63
Change
-0.060(0.44%)
Mkt cap ! $42.36B
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$13.64 $13.65 $13.53 $34.22M 2.516M

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