Transurban Group, owner of toll roads in Australia and Virginia, rejected an unsolicited takeover offer from Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan. Join discussion...

The Transurban Group has chosen Leighton Contractors as preferred contractor for the $550m upgrade of the Hills M2 motorway in North West Sydney. Under the agreement, Leighton will deliver environmental planning and design and construction. Subject to environmental approvals, the upgrade incorporates the widening of existing sections of the roadway from two to three lanes, including the Norfolk Rd twin tunnels, new access ramps, and upgrades of operational management and control systems. Join discussion...

THE funny thing about toll roads is that the more popular they become, the less attractive the customer proposition: motorists pay for the pleasure of not so much motoring as passively observing fascinating scenery such as impact barriers and overhead advertising. Criterion had plenty of time to ponder the issue when stuck in obstinately slow traffic on Melbourne's City Link on a Friday afternoon. The tragedy is, the jam was in the city inbound lane and against the flow of escaping commuters. Join discussion...

Highly leveraged toll road firms continue to post multi-million dollar losses as drivers shun expensive routes during the economic downturn. This week, two Australian firms with significant US holding reported overall negative results for the year ended June 30, 2009. Transurban, which owns Pocahontas Parkway in Richmond and is building High Occupancy Toll lanes on the Capital Beltway in Virginia, lost A$16.1 million. Macquarie, which owns the Indiana Toll Road, the Dulles Greenway in Virginia and the Skyway in Chicago, Illinois, lost $1.7 billion. Join discussion...

Australia's leading toll concessionaire Transurban reports toll revenues up a solid 7.6% to A$779m in the financial year ended 30 June, and a stronger increase of 17.8% to A$480m in net earnings before interest taxes depreciation and amortization (EBITDA). Adjusting for one-off items EBITDA of A$583m was an 11.5% increase on the previous financial year. Cost reductions of A$27m were reported achieved. An overall loss of A$25m was reported for FY2009, a solid improvement on FY2008. ($A1.00=84cUS) Join discussion...

Virginia DOT says the I-95/395 HOT Lanes concession project will not go to financial close this month as planned because of difficult capital market conditions and the need for more analysis and negotiation of project details. The postponement is officially announced in a 2-page letter from VDOT chief engineer Malcolm Kerley to officials in northern Virginia. Join discussion...

Allens Arthur Robinson (Allens) has acted for the lenders in two of the Transurban Group's major tollroad refinancing transactions in recent months. The transactions relate to Sydney's M1 Eastern Distributor (M1) and Hills M2 motorways (M2), with a refinancing value of A$515 million and A$465 million, respectively. Join discussion...

Toll road operator Transurban Group says aggregate toll revenue from its assets in Australia rose 7.3% to $243.9 million in the March quarter. Join discussion...

TRANSURBAN, a thriftier toll-road operator than it was a year ago, has posted an 86 per cent drop in first-half net profit to $1.9 million despite receiving almost 10 per cent more revenue through tolls and fees. Join discussion...

A global economic slowdown could turn into fiscal collapse for a pair of Australian toll road companies, one of which is currently seeking to expand its US operations. Transurban, the Melbourne company that owns the Pocahontas Parkway in Richmond, Virginia, today reported an 86 percent drop in profit for the second half of 2008. BrisConnections, the Queensland company that is building the A$4.8 billion Airport Link toll road in Brisbane, now faces a dramatic shareholder vote to dissolve the BrisConnections Unit Trust itself. Join discussion...