KordaMentha KordaMentha is an Australian advisory and investment firm that provides specialist forensic, real estate, turnaround / restructuring and investment management services. The business was formed in April 2002 by Mark Korda and Mark Mentha. Located at
Level 24, 333 Collins Street, Victoria, Australia.
Phone: +61 3 8623 3333

Transurban acquires City Cross Tunnel Debt

Transurban Group (ASX: TCL) announced today that it has reached agreement with The Royal Bank of Scotland plc, Australian Branch and The Royal Bank of Scotland N.V., Australian Branch (together RBS) to acquire all of RBS’ senior secured debt exposure to the Cross City Tunnel (CCT) in Sydney subject to regulatory approvals and final asset inspections.

The 2.1 kilometre CCT links Darling Harbour on the Western fringe of the Sydney CBD to Rushcutters Bay in the Eastern Suburbs.

 

CCT Receivers Martin Madden and Cassandra Mathews confirmed the agreement between TCL and RBS does not affect the operating activities and traffic flow through the CrossCity Tunnel. The operation of the tunnel will continue as normal, and customers, employees and other stakeholders will not see an impact.

 

The six (6) CrossCity tunnel holding and operating entities - CrossCity Motorway Pty Ltd, CCT Motorway Finance Pty Limited, CM Holdings Trust Pty Limited, CCT Motorway Company Nominees Pty Limited, CrossCity Motorway Nominees No. 2 Pty Ltd and CCT Motorway Group Holdings Pty Ltd remain in administration and receivership pending a sale or restructure of the business.

 

Operationally, management will continue to manage the activities on a day-to-day basis and drivers will not notice any changes.

 

 

KordaMentha media enquiries:

Mike Smith

Inside PR

+61 (3) 9440 9387

+61 (4) 11 055 306 


 

 


KM Private Clients  |  Staff Access  |  Privacy Policy  |  Legal Status  ©  Copyright . KordaMentha.