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.