Transurban (ASX:TCL) set to sell 50% of their Chesapeake assets to superfunds - Sequoia Direct Pty Ltd

17DecDecember 17, 2020

Transurban (ASX:TCL) set to sell 50% of their Chesapeake assets to superfunds

Toll road company Transurban (ASX:TCL) is set to sell their 50 per cent interest in their Chesapeake assets in the US to three superannuation funds.

The sale proceeds are set to be $2.8 billion from Australian Super, Canada Pension Plan and UniSuper.

There is also a potential earn-out of $93 million between financial years 2024-2026.

The assets consists of Transurban’s Greater Washington Area's operational assets which include express lanes and three projects in delivery and development.

Shares in Transurban (ASX:TCL) are trading 0.5 per cent lower at $9.80.
Copyright 2020 – Finance News Network

Source: Finance News Network

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