Infratil completes sale of Snapper Services

Company News

by Katrina Bullock

Infrastructure investment company Infratil (ASX:IFT) has completed the sale of its public transport ticketing subsidiary, Snapper Services.

The subsidiary was sold to Allectus Capital for a nominal value.

Infratil initiated a strategic review of its investment in Snapper in December of 2017 and Allectus Capital was granted exclusivity in January 2019.

A conditional sale agreement was executed in February and all of the conditions in that agreement have now been met.

Shares in Infratil (ASX:IFT) last traded at $4.03.
 

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.