Bus pass: Ritchies pays $34m dividend prior to private equity sale

Ritchies is now owned by private equity giant KKR. (Image: Ritchies)

Tue, 17 Jan 2023

Ritchies Transport Holdings declared a $30.4 million dividend a day prior to selling the coach and tour bus operator to US private equity group Kohlberg Kravis Roberts (KKR) on March 1. That brought total dividends for the year to $34.6m, the company's financial results for the year to March 31 show. No dividend was paid in 2021.The former majority shareholders in the family-owned firm were managing director Glenn Ritchie, who had a 51% stake in the company, and nephew Andrew Ritchie, with 49%. Andrew Ritchie was appointed chief execut...

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