Street Talk

Abertis lines up bankers for EastLink tilt after Transurban knock back

Sarah Thompson, Kanika Sood and Emma Rapaport

Sep 21, 2023 – 11.53am

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Bad news on Thursday morning for the fifty-strong team advising Transurban on its pursuit of Melbourne’s EastLink toll road, after the competition regulator said it would oppose any acquisition.

Good news, however, for Abertis Infraestructuras, Spain’s largest toll road operator, whose presence in the auction was revealed by Street Talk in June and confirmed in late July. It is understood the company, backed by CIMIC’s owner Groupo ACS, has hired Citi and JPMorgan for its tilt – a heavyweight combo of infrastructure bankers. So far, it looks like Abertis, with its deep pockets and 8,600 kilometres of toll roads around the world, will bid alone.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.