December 24, 2018 / 1:08 AM / 4 months ago

NZ's Infratil to sell local bus business

Dec 24 (Reuters) - Power utility firm Infratil Ltd said on Monday it would sell its New Zealand bus transport business to Australian private equity firm Next Capital.

The Wellington-based company expects proceeds of between NZ$218 million and NZ$240 million ($161.3 million) from the sale, which follows a strategic review announced by Infratil in February.

UBS New Zealand advised Infratil on the review and the deal, while Murray & Co advised Next Capital. ($1 = 1.4879 New Zealand dollars) (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Sai Sachin Ravikumar)

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