StraitNZ sold for $500m to Morgan Stanley

Staff reporters
Wed, 22 Dec 2021

(Image: Straitnz.co.nz)
(Image: Straitnz.co.nz)
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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