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Transurban Group buys Canadian infrastructure

Highways and railtracks company Transurban Group said it clinched a deal with Macquarie Infrastructure Partners to acquire 100% of the equity interest in a 7.2-kilometer toll road and bridge in Montreal for C$840 million.

The A25 connects Northern Montreal across the Rivière des Prairies to commercial and residential areas. It opened to traffic in 2011 with the concession ending in 2042.

Transurban CEO Scott Charlton the deal is part of the company's focus on heavily congested, urban areas with strong demographics.

The deal also includes unspecified transaction costs of C$18 million.