Transurban has reached agreement with Macquarie Infrastructure Partners1 to acquire 100% of the equity interests in the A25, located in the Montreal metropolitan area for CAD 840 million plus transaction costs of CAD 18 million. The A25 is a 7.2km toll road and bridge connecting Northern Montreal across the Rivière des Prairies to commercial and residential areas. It opened in May 2011 with a concession to September 2042.
Transurban will assume responsibility for the management and operations of the A25 after financial close, which is targeted for Q4 FY18 and is dependent on Investment Canada Act approval.
Transurban Chief Executive Officer, Scott Charlton, said the acquisition of the A25 and entry into the Montreal region is aligned with Transurban’s strategy of focusing on heavily congested, urban areas with strong demographics.
“Montreal is an attractive second market for Transurban in North America as a developed economy with a growing population and a government that embraces innovative transportation solutions to tackle the region’s congestion problems.”
“The A25 is located in the fastest growing part of Montreal. In operation for almost seven years, the asset provides opportunities to leverage Transurban’s expertise in operations, technology and customer management.”
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