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5 stories mentioning ASX:TCL

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Asia

Transurban Group Strikes CA$280 Million Deal to Sell Stake in Canada Concession; Traffic Growth Slows in May

Transurban Group (ASX:TCL) said it struck a deal with La Caisse for the sale of its remaining 50% stake in the A25 concession in Montreal, Canada, according to a Monday filing with the Australian bourse.Transurban expects to receive consideration of CA$280 million, and the deal's financial close is targeted by the end of June. The sale will see Transurban's A25 staff transition to La Caisse.Additionally, the company said its May traffic inched 0.1% higher from a year earlier, following growth of 0.6% in April, amid the continuing impact of the current geopolitical and macroeconomic environment.Over the course of May, Sydney traffic increased by 0.1% as construction activity from the M7-M12 interchange abated, and Melbourne traffic grew 1.7%, including the contribution from the West Gate Tunnel project.Meanwhile, Brisbane traffic decreased 3.2% mainly due to weather impacts, with May experiencing approximately four times the rainfall recorded in the same month a year earlier.Transurban also said it completed the M7-M12 integration project in New South Wales, and the M7-M12 interchange opened to traffic on Sunday.The company's shares were down nearly 1% in recent Monday trade.

ASX:TCL
Asia

Downer EDI Wins Contracts to Provide Road Maintenance, Incident Response Services on Transurban's New South Wales Assets

Downer EDI (ASX:DOW) won contracts of up to nine years to provide road maintenance and incident response services on Transurban's (ASX:TCL) northern assets in New South Wales, according to a Thursday filing with the Australian bourse.Transurban's northern assets include the NorthConnex tunnel, M2 Motorway, and Lane Cove Tunnel, the filing said.Service delivery under the New South Wales Incident Response and Maintenance Services (North Region) contracts will start in July for an initial seven-year term, with the option for two one-year extensions.The company expects total revenue of AU$310 million over the full nine-year term, per the filing.Downer shares fell 1% in morning trade on Thursday.

ASX:DOWASX:TCL
Asia

Transurban Group Says Westlink M7 Financing Arm Secures AU$300 Million Syndicated Loan

Transurban Group (ASX:TCL) said that WSO Finance, the financing arm of the Westlink M7, has raised AU$300 million through a syndicated bank facility to support the asset's funding requirements, according to a Tuesday Australian bourse filing.Transurban holds a 50% stake in the Westlink M7, per the filing.The proceeds will be used to refinance existing debt and cover related transaction costs, with the new facility scheduled to mature in April 2029, the filing added.The company's shares rose around 1% in recent Tuesday trade.

ASX:TCL
Asia

ASX Midday Sector Update: Energy Stocks Advance, Industrials Sector Struggles

Energy stocks advanced nearly 2% at midday Monday, the only sector in the green.Woodside Energy Group (ASX:WDS) gained more than 2% in recent trade.Meanwhile, the industrials sector struggled the most amid a broad-based decline, shedding almost 4%.Transurban Group (ASX:TCL) shares were down nearly 2% in recent trade.

ASX 200ASX:TCLASX:WDS
Asia

Transurban Says Recent Australian Traffic Showed Signs of Improvement After Earlier Disruptions

Transurban Group (ASX:TCL) said recent Australian traffic showed signs of improvement after geopolitical and macroeconomic factors impacted vehicle volume in late March and early April, according to a Monday filing with the Australian bourse.Melbourne posted a 1.6% increase in April traffic with the West Gate Tunnel adding to the total, while Brisbane traffic ticked 0.7% higher. But Sydney traffic fell 1.2%, impacted by the Easter holiday period and construction works, per the filing.Commercial vehicle traffic jumped nearly 11% across the company's Australian markets in April, and North American traffic "continued positive momentum with the strong value proposition supporting both volume and price growth," Transurban said.The company's shares were up nearly 1% in recent Monday trade.

ASX:TCL