Keppel Infrastructure Trust to acquire majority stake in Australia’s Ventura for A$600 mil

Khairani Afifi Noordin02-04

The transaction is expected to be completed in 2Q2024.Keppel Infrastructure Trust (KIT) is acquiring an approximately 98.6% stake in Ventura Motors, the largest bus service business in Victoria, ...

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equity and debt capital market issues; and external borrowings. \nUpon completion of the transaction, KIT’s assets under management will grow from $8.1 billion as at Jan 2 to approximately $9.7 billion. \nHeadquartered in Melbourne, Ventura was established in 1924 and transports more than 42 million people annually. With a fleet of approximately 900 buses and 12 depots, Ventura has the largest market share of public bus services in Victoria, operating approximately 530 routes out of Melbourne’s total 1,200 routes.\nAs over 80% of Ventura’s revenues are derived from long-term government route services, the majority of its income does not fluctuate with the volume of passengers or fares collected, providing inflation-protected revenues. \nAside from operating government route services, Ventura is also one of the largest bus charter service businesses in Victoria, servicing about 150 schools as well as providing bus services for tourism destinations and general charter. \nKIFM CEO Kevin Neo says Ventura is a good match for KIT’s portfolio as it generates stable, recurring and predictable cash flows. “As the new owner, KIT will further the successes of the Ventura team as the business enters its next phase of growth, supporting the Victorian government’s drive for zero-emission bus services,” he adds.\nUnits in KIT closed at an unchanged 51 cent on Feb 2.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2409113761"}