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:
2025-04-22 Keppel Infrastructure Trust - Distributable Income Boosted By One-off Divestment Gain.

Previous report by OCBC:
2025-04-01 Keppel Infrastructure Trust - Under The Sea.

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