Receivers Appointed To Sydney Toll Road Owner Connector Motorways
20 January 2010 - 1:55PM
Dow Jones News
Receivers and managers have been appointed to Connector
Motorways Pty. Ltd., which owns Sydney's A$1.6 billion Lane Cove
Tunnel, the company's receiver KordaMentha said Wednesday.
Equity investors in Connector Motorways--including Leighton
Holdings Ltd. (LEI.AU), Mirvac Group (MGR.AU) and Hong Kong's
Cheung Kong Infrastructure Holdings (1038.HK)--have written off
their holdings in the company.
"Operationally, the tunnel and Military Road E-Ramp are
performing well, with patronage having increased by almost 9% over
the past 12 months ending December 2009," KordaMentha Partner
Martin Madden said in a statement.
"We do not intend to make any significant operational
changes."
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
ross.kelly@dowjones.com
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