Transurban has a peek at Denver’s Northwest Parkway toll road
afr.comForget Melbourne’s EastLink, Transurban’s got another toll road across the Pacific Ocean it may look to add to its $40 billion empire.
Denver’s Northwest Parkway, a 14 kilometre toll road that is a part of the Colorado highway system, has hit the dealmaking circuit as one of its shareholders, DIF Capital, seeks an exit. It is understood DIF Capital’s sell-side adviser, New York investment bank Evercore, has commenced investor marketing for an auction.
It’s early days and all being run out of the US. But sources said local toll roads giant Transurban, helmed by Michelle Jablko, is expected to run a ruler over Northwest Parkway to see if it makes sense to lob a bid.
Transurban is no stranger to US toll roads. Its portfolio is brimming with assets in Australia’s metropolitan hotspots like Sydney, Melbourne and Brisbane. but it also has a 50 per cent stake in 95 Express Lanes, which serves Virginia and greater Washington DC. The road has been open to commuters since 2014 and just in August, partially opened a 16-kilometre extension to add about 66 per cent capacity during peak hours.
Northwest Parkway, Colorado: Transurban’s new target?
Transurban owns half of the 13-kilometre long 395 Express Lines, which extends the 95 Express Lanes to the Washington DC border. Also connecting with the 95 is the 495 Express Lanes, which stretch 22 kilometres between Springfield and Dulles Toll Road.
Lastly, it is part owner of a concession for Canada’s A25 toll road and bridge connecting Montreal across the Rivière des Prairies. (It sold half of its US toll roads to a AustralianSuper, UniSuper and CPP Investments for $2.8 billion in late 2020).
Former CEO Scott Charlton was vocal about the company’s interest in US assets. It’s had a few
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