Speculation has arisen that a global alternative asset manager is set to buy into Australia’s largest bus operator Kinetic Group.
The Australian Financial Review’s Street Talk has reported that TPG Capital is set to buy the group nearly two years after it was first put up for sale.
According to the speculation, The Rise Unit, which is part of the asset management firm, is in “advanced negotiations” to buy the bus and coach service operator that has also recently expanded into overseas markets.
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The deal would form Rise’s first investment in Australia and there’s suggestions that the deal could be done as early as this week.
Speculation suggests Kinetic could be sold for just under $4 billion.
ABC reached out to both Kinetic and TPG Capital, with Kinetic declining to comment.
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