Transurban-led consortium to acquire Queensland Motorways for AUD$7.05 billion

Steer Davies Gleave is pleased to have supported Transurban in its bid for this strategically important concession.

Transurban Group, Australia’s largest toll road owner and operator, announced on 23 April  that a Transurban-led consortium had reached agreement to acquire Queensland Motorways for AUD$7.057 billion (GBP £3.9 billion), inclusive of stamp duty and excluding transaction costs. Transurban will manage and operate the network on behalf of the owners.

Steer Davies Gleave was commissioned to act as independent Traffic and Revenue Advisor to the consortium to support the bid for Queensland Motorways, which  includes four toll road concessions in Brisbane, South East Queensland (SEQ), Australia.

Transurban Chief Executive Officer Scott Charlton said Queensland Motorways was a high-quality established portfolio of assets, and the acquisition was  consistent with the Group’s stated corporate objectives of continuing to grow distributions for security holders and enhancing the Group’s existing portfolio of prime assets.

“Clearly this is a portfolio of attractive assets with all the characteristics of our existing networks in Sydney and Melbourne, and the attractive demographics of the Queensland market.”

“As an operator we have a unique ability to integrate and unlock value from our networks utilising our core capabilities and today’s acquisition represents the culmination of detailed analysis that began last year. We are delighted with the outcome.”

Sir Leo Hielscher (Gateway) Bridges is part of the Queensland Motorway Concession which has been won by Transurban-led consortium

Steer Davies Gleave’s Head of Infrastructure and Director Charles Russell said “we are really pleased to have acted as the traffic advisors to the Transurban-led consortium and extend our hearty congratulations to our clients.”

“There was a lot of hard work put in both from Transurban and our team in the build up to the bid. This is excellent outcome and we look forward to continue working with Transurban as they move towards financial closure for this asset purchase,” Mr. Russell said.