A PYMNTS Company

Australia: Queensland sells off $6.6B worth of assets to Transurban

By  |  April 24, 2014

The Australian state of Queensland has inked a deal to offload its toll company Queensland Motorways to a consortium lead by the nation’s largest toll road owner Transurban Group, according to reports.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The divestiture, made for $6.6 billion, is part of an initiative among Australian states to sell assets to fund capital works programs, according to reports. The trend was sparked following New South Wales’ sale of a desalination plant in 2012, made for $2.3 billion.

    Transurban was likely attracted to the toll road assets as such infrastructure is in high demand, reports say, due to high barriers to entry in the market and long-run returns.

    But according to one unnamed source, the consortium paid a “steep” price tag.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.