Keppel Infrastructure Trust - OCBC Investment 2024-02-05: All Aboard The Melbourne Express

• 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 an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Read also OCBC's most recent report:
2025-10-30 Keppel Infrastructure Trust - A Mixed Report Card With DI Growth Boosted By Divestments Gain.

Previous report by OCBC:
2025-07-30 Keppel Infrastructure Trust - Stable Overall Results Pending Foray Into Digital Infrastructure.

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 Dividend Payout Dates & Corporate Actions,
Keppel Infra Trust News