(Updates with details)
March 15 (Reuters) - Australia's Kelsian Group Ltd (KLS) said on Wednesday it would acquire U.S.-based coach and bus operator All Aboard America! Holdings Inc in a $325 million deal.
The transit operator said it would fund the acquisition through an equity raising of A$281 million ($187.46 million) where a shareholder could subscribe to one new share for every eight and a half shares of the company.
New shares will be issued at A$5.55 per share, which represents a discount of 14.4% to the company's last close on Monday.
The operator has been looking to expand its footprint internationally as last year it had signalled to make a bid for the British transport operator Go-Ahead Group GOG.L .
On Tuesday, local media reports cited that Kelsian was finalizing negotiations with All Aboard's owner Tensile Capital Partners.
The acquisition is expected to be earning accretive in the upper single digit for earning per share excluding one-off items, the company said in a statement. ($1 = 1.4990 Australian dollars)
(Updates with details) March 15 (Reuters) - Australia's Kelsian...
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Last
$3.84 |
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Mkt cap ! $1.042B | |||
| Open | High | Low | Value | Volume |
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