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Keolis-Downer purchases ATE(owners of Southlink)

Adelaide / South Australia Transport Discussion

Keolis-Downer purchases ATE(owners of Southlink)

Postby jibb » Wed Mar 11, 2015 12:36 pm

This company which operates Yarra Trams(Victoria and Goldlinq(G) has purchased ATE WA,Queensland and SA for $163 million.Keolis is the worlds largest network tram operator,and was formed 25 years ago.Downer is a leading provider of engineering and infrastructure management.
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Re: Keolis-Downer purchases ATE(owners of Southlink)

Postby MAN 16.242 » Wed Mar 11, 2015 3:29 pm

http://www.heraldsun.com.au/business/br ... 7257989364
Keolis Downer acquires ATE

Keolis Downer, a joint venture between public transport operator Keolis and mining services group Downer EDI, has inked an agreement to acquire Australian Transit Enterprises (ATE) for $163 million as part of its continuing expansion ambitions.

Downer chief executive Grant Fenn said the purchase aided Keolis Downer’s strategy to expand both geographically and into new modes of public transport.

“Keolis Downer, through Yarra Trams, has been operating and maintaining the Melbourne tram network successfully for over five years and, in July 2014, Keolis Downer began operating and maintaining the Gold Coast Light Rail,” Mr Fenn said.

“The acquisition of ATE will see Keolis Downer expand into substantial bus operations and also into the new geographies of South Australia and Western Australia.”

ATE is one of the nation's largest route, school and charter bus businesses and operates a fleet of over 900 buses in South Australia, Western Australia and Queensland.

Keolis Downer said it will will fund the acquisition through a $65m bank loan from HSBC and shareholder loans from Keolis and Downer.

The bank debt is non- recourse to the parent entities of the JV, Keolis and Downer EDI.

The deal is expected to be completed in early April.
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