Keppel Infrastructure Trust Disbands 24.62% Stake in Australia Bus Company Priced at A$130 million

The trust's management company pointed out that the funds obtained from the exchange and the previous 50% equity sale of Philippine Coastal Storage and Pipeline Corporation each receive approximately S$300 million, which will strengthen the trust's financial resources and agility and make the trust more capable of further seizing opportunities.

Kepp Infrastructure Trust disclosed the transaction after the closing of the market on Tuesday (June 10) that the buyer was a private investment fund managed by Samsung Asset Management. This selling price is about 19% higher than the amount paid by the Trust when it acquired the equity.

This transaction will not have any significant impact on the trust's dividend payout per unit and the net tangible asset value per unit for the fiscal year end 2025.

Keppel Infrastructure Trust will disband a 24.62% stake in Australian bus service Ventura Motors Pty. Ltd. to a private investment fund for AUD 130 million (S$109 million).

Trust bought a 97.38% stake in Ventura in June 2024, and Ventura's corporate value reached AU$600 million.

After the transaction is expected to close in the third quarter of 2025, Andrew Cornwall, CEO of Keppel Infrastructure Trust and Ventura, will continue to hold 73.06% and 2.32% stake in Ventura. This transaction is subject to approval by the regulatory authorities.

Headquartered in Melbourne, Ventura is the largest bus service operator in Victoria, Australia (the highest market share). It has about 900 buses and 12 strategic locations. It operates about 530 Melbourne routes (Melbourne has about 1,200 bus routes), carrying 42 million passengers each year.

Keppel Infrastructure Trust's share price remained flat at 0.395 yuan on Tuesday.