Transurban Group to Acquire CPPIB's Stakes in Australian Toll Roads for Nearly AU$5 Billion

MT Newswires Live

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Transurban Group (ASX:TCL) agreed to acquire Canada Pension Plan Investment Board's (CPPIB) stakes in NorthWestern Roads Group (NWRG) and Sydney Transport Partners (STP) for AU$4.5 billion in cash, according to a Thursday filing with the Australian bourse.

The deal will lift the company's ownership to 75% of NWRG, which owns Westlink M7 and NorthConnex, and nearly 61% of STP, which owns WestConnex, per the filing.

The deal is expected to boost value and free cash flow over the medium to long term, with no impact on fiscal 2027 free cash flow or distributions and no changes to tolls or motorists' road experience, the filing said.

The acquisition will be funded through committed debt facilities, with no equity raising planned, and remains subject to approval from the Australian Competition and Consumer Commission and other contractual conditions, with completion expected during 2027, the filing added.

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