- Keppel Infrastructure Trust has announced the proposed acquisition of a 98.6% stake in Ventura Motors Pty. Ltd. at an enterprise value of AUD600m (~S$540m). The acquisition will likely be funded through a combination of internal resources, debt, and equity.
Proposed acquisition of largest bus service business in Melbourne, Australia
- - Read this at SGinvestors.io -
- Ventura operates a fleet of ~900 buses and 12 strategically located depots servicing more than 42m passengers per annum. It holds a market share of ~32% of public buses in Victoria, covering ~530 routes out of 1,200.
- Based on Ventura’s revenue for the financial year ended 30 Jun 2023 (FY23), ~90% was derived from long-term, inflation-protected government route services.
- - Read this at SGinvestors.io -
Total acquisition cost of ~S$570.6m.
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2024-02-05
Read also OCBC's most recent report:
2024-05-03 Keppel Infrastructure Trust - In Constant Pursuit Of Portfolio Expansion & Value Creation.
Price targets by other brokers at Keppel Infra Trust Target Prices.
Listing of research reports at Keppel Infra Trust Analyst Reports.
Relevant links:
Keppel Infra Trust Share Price History,
Keppel Infra Trust Announcements,
Keppel Infra Trust Dividends & Corporate Actions,
Keppel Infra Trust News Articles
