Street Talk

Mystery bidder shakes up $2b ConnectEast toll road auction

Sarah Thompson, Kanika Sood and Emma Rapaport

May 23, 2023 – 7.00pm

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The sale of a controlling interest in Victoria’s largest tollroad network, ConnectEast, could finally be turning into an auction after a mystery party asked three investment banks to pitch for a funding and advisory role on a potential tilt at the prize asset.

Transurban owns Melbourne’s CityLink and West Gate Tunnel projects. Getty

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.