"The transaction, expected to close in the coming months subject to regulatory approvals, marks a new phase in Kinetic's expansion across zero-emission bus and rail operations in Australia, New Zealand, and international markets. According to Kinetic, the new partnership with TPG provides financial capacity and expertise to accelerate its transition to a fully net-zero platform. Media commentary places the enterprise value of the transaction at above USD 4.0 billion, though exact terms remain undisclosed."
"Under the agreement, Canadian pension fund OPTrust will fully exit its shareholding, while UK-based Foresight Group will retain a 30% stake. TPG's investment will be made through its TPG Rise Climate platform, one of the largest global private-market vehicles focused on decarbonisation. The deal is channelled via its Climate Transition Infrastructure strategy, which targets scalable electrification and green mobility assets, Kinetic states."
TPG will acquire a 70% equity interest in Kinetic, making TPG the majority shareholder and enabling accelerated expansion of zero-emission bus and rail operations across Australia, New Zealand, and international markets. OPTrust will fully exit its holding while Foresight Group will retain a 30% stake. The investment will be executed via TPG Rise Climate and its Climate Transition Infrastructure strategy, which targets electrification and green mobility assets. Media estimates place the enterprise value above USD 4.0 billion. Kinetic operates over 12,000 buses and 400 trains across seven countries and holds a 51% stake in Go-Ahead Group.
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