Infratil to help finance sale of NZ Bus to private equity for up to $240M

Mon, 24 Dec 2018

By Paul McBeth Dec. 24 (BusinessDesk) - Infratil has agreed to sell its NZ Bus unit to Next Capital for up to $240 million, but will help the Australian private equity firm pay for it. Announced after the New Zealand market had closed, Infratil said it's reached a conditional sale with Next Capital, which sold Go Bus to Ngai Tahu Holdings and Tainui Group Holdings four years ago. The New Zealand firm expects to receive between $218 million and $240 million from the sale, with the final proceeds adjusted for working capital, capital spend...

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