Melbourne’s EastLink toll road operator seeks new majority owner – report

A new report has revealed the operator of EastLink could soon have a new majority shareholder.

Bloomberg (via The Age) claims as much as 55.45 per cent of ConnectEast Group is being put forward in a stake sale by its parent company, in a deal that could be worth as much as $2.5 billion.

EastLink is the second-busiest tollway in the country, with around 250,000 users each day, and serving 40 per cent of Melbourne’s population.

According to the report, the deal could value Eastlink at $7 billion (including debt).

Horizon Roads Pty Ltd is believed to have put the majority stake of ConnectEast Group up for sale, with Transurban Group reportedly an interested party.

Transurban receives almost $2 million each day from tolls on Citylink – Melbourne’s other major tollway – with $722 million in revenue generated annually.