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Infrastructure investor Infratil Limited (ASX:IFZ, NZE:IFT) and the New Zealand Superannuation Fund have inked a deal to buy RetireAustralia in a deal worth $640.2 million. 

 

RetireAustralia is Australia's largest privately-held pure-play retirement operator with 28 villages across New South Wales, South Australia and Queensland.

 

Infratil CEO Marko Bogoievski says the asset provides a strong platform in an Australian sector offering very attractive long-term growth prospects. 

 

RetireAustralia’s underlying earnings in the current financial year are forecast to reach between $35 million $40 million. The transaction is expected to settle by December 31, 2014.   

 

Infratil reported a net profit of almost $400 million in the six months to the end of September 2014.