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SeaLink Travel to acquire Transit Systems, Australia [free access]

October 9, 2019

Australia-based tourism and travel company SeaLink Travel Group has announced plans to acquire Transit Systems, a public bus operator in Australia. The purchase price incorporates an enterprise value of AUD635 million (USD427.48 million) as well as an earn-out component of up to AUD63 million. The acquisition will be financed through a combination of cash and a new issue of shares to Transit Systems Group vendors. This mode of acquisition is yet to be approved by the shareholders of SeaLink Travel Group. The deal is expected to be finalised by early-2020.

 

Transit Systems operates a fleet of over 3,000 buses in New South Wales, Northern Territory, South Australia, Victoria, Western Australia, London, and Singapore.

 

(1 AUD [Australian Dollar] = 0.67 USD)