Keppel Infrastructure Fund Management (KIFM), the trustee-manager of Keppel Infrastructure Trust (KIT), has announced KIT will be divesting a 24.62 percent stake in Ventura Motors, the largest bus service business in the State of Victoria, Australia, to private investment funds managed by Samsung Asset Management.
Headquartered in Melbourne, Australia’s second-largest city, Ventura has a fleet of about 900 buses and 12 strategically located depots and has the largest market share of public bus services in Victoria, operating approximately 530 routes out of Melbourne’s 1,200 total routes and transporting more than 42 million people annually.
Ventura owns and operates Victoria’s first fully electric bus depot and has the largest fleet of 27 zero-emission electric buses (ZEBs) responsible for delivering more than half of the trial electric buses under the Victorian government’s ZEB Trial.
The sale consideration of the transaction is A$130 million $85 millio
