Iwi-owned Go Bus to be acquired by leading Australian transport operator
Ngāi Tahu Holdings Corporation and Tainui Group Holdings have agreed to the sale of public transport company, Go Bus, to Melbourne-based industry operator, Kinetic.
Go Bus is one of New Zealand’s largest public transport operators with operations across the country including in Auckland, Waikato, Wellington, Christchurch and Dunedin.
Top New Zealand law firm, MinterEllisonRuddWatts advised Ngāi Tahu Holdings and Tainui Group Holdings on the share sale agreement.
The MinterEllisonRuddWatts team, led by Corporate Partner Mark Forman, included partners Steve Gallaugher, Andrew Ryan, Senior Associate Jo Carrick-Anderson and solicitor Brad Cope. The team called upon its expertise in the public transport sector, to provide commercial legal advice and negotiate the sale agreement with Kinetic.
MinterEllisonRuddWatts previously advised Next Capital on its acquisition of the NZ Bus business from Infratil and has leading experience in advising on core transport network infrastructure projects.
Upon reaching the agreement, Partner Mark Forman said: “This is a fantastic outcome for Ngāi Tahu Holdings and Tainui Group Holdings. We are delighted to have worked alongside the vendors ensuring that this iconic New Zealand company will be in great hands post sale.”
Kinetic operates SkyBus in Auckland and 177 other passenger transit services across Australasia, including leading Queensland transit brands Surfside Buslines and Sunbus, and Sydney’s largest bus and coach charter company, Telford’s. It is majority owned by OPTrust, one of Canada’s largest defined benefit pension plans.
The acquisition is subject to Overseas Investment Office approval. Murray & Co acted as financial advisor to the Vendors on the sale.