A takeover of bus and rail operator Go-Ahead by Australian-Spanish consortium Kinetic and Globalvia is now likely to progress after rival bidder Kelsian abandoned its interest.
Adelaide-based Kelsian blamed volatile Australian equity markets for its withdrawal, saying its own share price had been affected recently. In a statement the firm said: "Unfortunately, recent Australian equity markets have been volatile and external events have adversely impacted the Kelsian share price since June 14, 2022 when Kelsian first announced it was considering a possible offer for Go-Ahead.
"The Kelsian Board consider that Australian equity market conditions at this time do not enable Kelsian to pursue a possible transaction for Go-Ahead despite the long-term strategic and economic rationale of the potential transaction for Kelsian."
