Acquirer(s)
- Transurban Group
Target(s)
- Horizon Roads Pty Ltd
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 inquiries
Submissions are invited from interested parties regarding Transurban Group’s proposed acquisition of a majority interest in Horizon Roads by 13 April 2023.
Submissions should be forwarded electronically (preferably in PDF format) to mergers@accc.gov.au with the title: “Submission re: Transurban/Horizon Roads - attention Ninad Kulkarni/Tim Byrne".
For more details, please refer to the Market Inquiries Letter published below.
Market inquiries
| Document title | Date | |
|---|---|---|
| Transurban Horizon Roads - market inquiries letter |
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. |
|
Provisional date for announcement of ACCC’s findings (as outlined in the Informal Merger Review Process Guidelines, this may be a final decision or release of a Statement of Issues). |
Project staff
- Ninad.Kulkarni@accc.gov.au
- Tim.Byrne@accc.gov.au