Transurban announces that Transurban Queensland, the consortium formed by AustralianSuper, Tawreed Investments Limited (a wholly owned subsidiary of the Abu Dhabi Investment Authority) and Transurban (62.5%), has reached financial close on the acquisition of AirportlinkM7 for $1.87 billion, plus stamp duty of $108 million and transaction costs of $23 million.

The Australian Competition and Consumer Commission (ACCC) had given the green light to the acquisition of Brisbane's AirportLink M7 toll road in December 2015.

According to past comments of Transurban Chief Executive Officer (CEO), Scott Charlton, the company has plans to take advantage of synergies for operating the AirportLink M7 as part of its broader Queensland toll road network. This move is expected to improve customer service related to billing, call centres, and electronic tag distribution.

Transurban Chief Executive Officer Scott Charlton said in today's press release:

“The acquisition of AirportlinkM7 enhances Transurban Queensland’s network position in Brisbane, providing opportunities to strengthen our offering to our customers. We are now focused on integrating AirportlinkM7 into Transurban Queensland.”

Airportlink M7 is a 6.7km, multi-lane, free-flow toll road located in Brisbane, Queensland. Primarily a tunnel, AirportlinkM7 connects to:

• the Clem7 Tunnel
• Inner City Bypass, the Legacy Way tunnel and local road network at Bowen Hills
• the northern arterials of Gympie Road and Stafford Road at Kedron
• Sandgate Road, and
• the East West Arterial Road leading to the Airport and Australia TradeCoast.

BrisConnections was the owner of the Airportlink M7 in Brisbane, and the associated electronic tag issuing business.  The BrisConnections Corporate Group went into receivership in 2013. The sale process was conducted by the receiver appointed to BrisConnections Corporate Group.

Transurban will be responsible for operating the AirportLink M7.