StraitNZ sold for $500m to Morgan Stanley

Staff reporters
Wed, 22 Dec 2021

Staff reporters
Wed, 22 Dec 2021
CPE Capital has sold StraitNZ, the company that operates the Bluebridge Cook Strait ferries, to Morgan Stanley Infrastructure Partners for more than $500 million, according to the Australian Financial Review.AFR said the 30-year old StraitNZ claims 56% of the vehicle freight across Cook Strait and 31% of the passenger business, both up from 24% a decade ago.It said the company collects about $175m a year in revenue and $45m in earnings before interest, tax, depreciation and amortisation and that ebitda is forecast to hit $81m in the 2030/31 fin...

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