Move over Sydney Airport, Afterpay, Santos-Oil Search and Woodside Petroleum-BHP, there’s a new $10 billion deal in town.
Transurban and its Sydney Transport Partners consortium agreed terms to acquire a 49 per cent stake in Sydney toll roads company WestConnex at the weekend, in a transaction revealed by Street Talk and that will be announced on Monday.
It’s a big win for Transurban, which will kick off a $4 billion equity raising to help fund it, and a great outcome for NSW, which got a deal at a big price without a rival bidder.
Transurban boss Scott Charlton will be out selling the deal to shareholders on Monday.
The raising, his sixth since taking the reins in July 2012, will take total equity capital raised under his watch to an astonishing $15 billion. Each of the six raisings have been for growth projects.
Takeover target Z Energy wants Australia’s Ampol to pick up regulatory risk associated with its $3 billion bid, by guaranteeing dividends flow to its shareholders while the mooted deal completes.
Pacific Equity Partners has booked a bunch of private hospital owners and infrastructure investment types for a month-long say at its Kiwi hospitals group Evolution Healthcare, in the hope of securing a neat payday in coming months.
