It’s back to the drawing board for bus group Kinetic’s private capital owners, who’ve had their fingers crossed for a blockbuster $4 billion exit by Christmas.
Street Talk can reveal Canadian pension fund OPTrust and minority shareholder Foresight Partners’ plan is to consider “other options” after bids for 100 per cent of the business failed to meet expectations. It comes five weeks after sell-side adviser Macquarie Capital collected non-binding indicative offers from a handful of parties.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com