Region. Catalyst for development

Although the report prepared by PriceWaterhouse Coopers for COAG found traffic flows along the M7 had fallen below initial forecasts, its building had “proven to be a catalyst for development in Western Sydney”.

Region. M7 traffic and revenue up

Macquarie Infrastructure Group (MIG) reports traffic on the Westlink M7, in which MIG has a 25 per cent stake, was up 4.9 per cent in the March quarter and up 5.7 per cent for the year to date. Average daily revenue for the quarter increased by 9.7 per cent to $503,201 and was up 10.4 per cent for the year to date. Austock infrastructure analyst, Andrew Chambers, said the M7 had “performed better than we thought.”

Region. Macquarie sells M7 share for $805m

Macquarie Infrastructure Group has agreed to sell its 50 per cent stake in the Westlink M7 to the Western Sydney Road Group (WSRG), for $805 million. Transurban has 30 days in which to decide to exercise its pre-emptive right on Westlink to match WSRG deal. The 40-kilometre cashless toll road opened three years ago.

Region. MIG hopes to sell M7 share

Macquarie Infrastructure Group (MIG) hopes the proposed sale of a 50 per cent stake in Westlink’s 40-kilometre road, and a $600 million buyback, will restore investor confidence in its business model and turn around the toll-road operator’s ailing share price, said The Australian Financial Review. MIG’s stake in Westlink M7 was valued at $802 million. Rival, Transurban, has emerged as the leading contender to buy the half share, given its pre-emptive rights.