Transmission Gully investor selling up

Cimic Group is selling its stake in Transmission Gully contractor Wellington Gateway Partnership.

Fri, 11 Feb 2022

Australian building giant Cimic Group has found a possible buyer for its stake in the consortium delivering the Transmission Gully motorway.Cimic has a 15% stake in Wellington Gateway Partnership (WGP) through its project finance arm, Pacific Partnerships.The group owns CPB Contractors, which is building the road alongside HEB Construction.Cimic also owns a third of Ventia Services, the company which will maintain the road for 25 years.In its latest financial results, released on Thursday, Cimic disclosed it had transferred its stake in the pub...

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