Infratil sells Fullers Group for $40m

The ferries, which operate out of Auckland, are being acquired by another bus company, Souter Holdings, which operates Howick & eastern buses and owns 74% of Wellington's Mana Coachlines.

Fullers had EBITDAF of $5 million in the year ended March 31, Infratil said. The sale, which settles on April 8, will bring to $100 million the amount of divestments in the 2009-2010 year.

Shares of Infratil were last at $1.47 and have slipped about 10% this year.

By Jonathan Underhill

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