A $2.17 billion takeover offer for toll road owner ConnectEast has gained all regulatory and lender approvals.

Investment vehicle Horizon Roads has also received consent from the State of Victoria, ConnectEast said in a statement on Monday.

ConnectEast, which owns and operates Melbourne’s EastLink toll road, has recommended the takeover offer to its security holders, who will meet on September 27 to vote on the proposal.

For the takeover to proceed, a minimum of 75 per cent of votes cast on necessary constitutional amendments are required to be in favour.

Horizon Roads has offered 55 cents for each ConnectEast security, or alternatively ConnectEast security holders can opt to receive securities in an unlisted managed investment scheme, which would enable them to retain an interest in ConnectEast.

A number of global investors are funding the Horizon offer including pension schemes in the UK, Netherlands, South Korea, China, Denmark, New Zealand and the US.