TPG Acquires Majority Stake in Kinetic
Global private equity firm TPG has announced it will acquire a 70 per cent stake in transport operator Kinetic, becoming its majority shareholder through the TPG Rise Climate fund.
The transaction, subject to customary regulatory approvals, will see OPTrust exit its position in Kinetic, while Foresight Group will retain a 30 per cent holding in the company.
- Kinetic is Australasia’s largest mass transit operator
- Majority owner of the UK’s Go-Ahead Group
- Operates a fleet of more than 12,000 buses and 400 trains across seven countries
Author's summary: TPG acquires 70% stake in Kinetic.