Keppel Infrastructure Trust Sells 49% Stake in Australia’s Ventura Bus Services for A$130 Million to Recycle Capital
Summary:
Keppel Infrastructure Trust (KIT) has agreed to divest a 49% stake in Australian bus operator Ventura for A$130 million (≈S$117 million) to its management team, reducing its holding to 51%. Key details:
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Valuation & Strategy: The sale aligns with KIT’s capital-recycling strategy, valuing Ventura at an enterprise value of A$439.4 million. Proceeds will fund core infrastructure investments in Singapore and Australia.
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Financial Impact: Expected to lower KIT’s aggregate leverage by 1.4% and boost 2025 distribution per unit (DPU) by 2.5%.
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Timing: The transaction, effective 1 July 2025, is slated for completion by Q3 2025, pending regulatory approvals.
KIT retains operational control, emphasizing continued growth in sustainable public transport. Shareholders were advised to review the full announcement for details.