Acquirer(s)
- Transurban Group
Target(s)
- Horizon Roads Pty Ltd
Summary
Summary
Transurban (ASX: TCL) is seeking to acquire a majority interest in Horizon Roads through a competitive sale process.
Horizon Roads, through ConnectEast, holds a concession from the State of Victoria to operate the EastLink toll road until November 2043. EastLink is a 39-kilometre freeway in South-East Melbourne that runs from Mitcham to Frankston. It connects to the Monash, Eastern, Frankston and Peninsula Link freeways.
Transurban is Australia’s largest toll road operator. Transurban’s operations include the development, ownership, management and operation of toll roads in Australia and North America. In Melbourne, Transurban operates the CityLink toll road, and is building and will operate the West Gate Tunnel toll road.
Market definition
A Public Competition Assessment will be published in due course.
Competition analysis
A Public Competition Assessment will be published in due course.
Market inquiries
| Document title | Date | |
|---|---|---|
| Transurban Horizon Roads - market inquiries letter |
Statement of issues
| Document title | Date | |
|---|---|---|
| Transurban Horizon - Statement of Issues |
Timeline
| Date | Event |
|---|---|
ACCC commenced review under the Merger Process Guidelines. |
|
Closing date for submissions. |
|
Former provisional date for announcement of findings (8 June 2023) delayed to allow ACCC additional time to continue its investigation and consider information provided by market participants. |
|
ACCC published a Statement of Issues outlining preliminary competition concerns. |
|
Closing date for submissions relating to Statement of Issues. |
|
Former proposed date for announcement of findings (7 September 2023) delayed to allow the ACCC to obtain further information from market participants. |
|
ACCC announced it would oppose the proposed acquisition. |