Transurban Group sells 50% of A25 asset to CDPQ for CAD 355 million

Transurban Group sells 50% of A25 asset to CDPQ for CAD 355 million

SYDNEY, AUSTRALIA: Transurban Group has reached an agreement to introduce CDPQ, a global investment group, as a 50% partner in the A25 asset for gross sale proceeds of CAD 355 million.

This transaction will bring along a strategically aligned and well-respected Quebec-based partner with a trackrecord of working alongside Transurban in Sydney (via co-investment in WestConnex).

Transurban Chief Executive Officer, Scott Charlton, said, “This is the second partnership between Transurban and CDPQ since joining Sydney Transport Partners as part of the recent WestConnex transaction. We have found them to be a constructive, knowledgeable and collaborative partner and we are excited to continue the excellent working relationship. Both parties are aligned on the long-term aspirations for the North American market and we look forward to pursuing new opportunities together.”

Emmanuel Jaclot, CDPQ’s Executive Vice-President and Head of Infrastructure, said, “CDPQ is delighted to partner once again with Transurban, after joining forces in Sydney for WestConnex. This new partnership is consistent with our strategy of targeting high-quality assets alongside key operators. We look forward to working together, this time in our home market, to ensure the best possible experience for users of the A25 in the Greater Montréal area.”

Financial close is expected by 31 March 2023, subject to customary closing conditions and relevant consents and approvals.

CDPQ is a global investment group managing funds for public retirement and insurance plans, working alongside partners to build enterprises that drive performance and progress. CDPQ is active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2022, CDPQ’s net assets totaled approximately CAD392 billion.

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