Keppel Infrastructure Fund Management (KIFM), the trustee-manager of Keppel Infrastructure Trust (KIT), has announced plans to acquire a 98.6 percent stake in Ventura Motors, the largest bus service business in Victoria, Australia, for an enterprise value of A$600 million ($650 million).
Ventura was established in 1924 and transports more than 42 million people annually. The bus and charter coach service business, Ventura, is headquartered in Melbourne, Australia. With a fleet of approximately 900 buses and 12 strategically located depots, Ventura has the largest market share of public bus services in Victoria, operating approximately 530 routes out of Melbourne’s 1,200 total routes. Besides operating government route services, Ventura is also one of the largest bus charter service businesses in Victoria, servicing about 150 schools as well as providing bus services for tourism destinations and general charter.
Furthermore, Ventura has the largest fleet of 27 zero-em