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 joined FNN in October 2018 and also works as a lawyer for Greenpeace.