SeaLink deal OK

Travel Daily - - News -

SHARE­HOLD­ERS in SeaLink Travel Group (SLK) to­day ap­proved the com­pany’s pro­posed merger with Tran­sit Sys­tems (TD 08 Oct).

An Ex­tra­or­di­nary Gen­eral Meet­ing to vote on the plan car­ried five res­o­lu­tions which will see SeaLink pay up to $698 mil­lion for the Tran­sit Sys­tems Group, which is Aus­tralia’s largest pri­vate op­er­a­tor of metropoli­tan bus ser­vices.

Tran­sit Sys­tems Group CEO Clint Feuer­herdt will be­come CEO of SeaLink once the deal is fi­nalised, with set­tle­ment ex­pected to take place some­time next month and the own­ers of Tran­sit Sys­tems end­ing up with about 33% of SLK.

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