Kelsian Group to sell tourism portfolio to Journey Beyond for $161m
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The news: Transport services company Kelsian Group has agreed to sell its tourism portfolio to Australian travel group Journey Beyond for $161 million on a cash and debt free basis.
The context: Journey Beyond will acquire 100% of the shares in Sealink Fraser Island, Captain Cook Cruises, SeaLink Marina, Avonward, SeaLink Tasmania, SeaLink Northern Territory, Vyscot, and assets of the businesses operating the Adelaide Sightseeing and SeaLink Whitsundays business.
The deal is subject to approval by the Australian Competition and Consumer Commission and Foreign Investment Review Board.
Completion is expected to take place in the first half of FY27.
The divestment follows a portfolio review by Kelsian, announced in October 2024. The group confirmed its intention to sell the tourism portfolio early last year.
Kelsian said it undertook a competitive sales process soliciting interest from multiple domestic and international parties.
The net proceeds from the sale will support a reduction of debt and fund investment in “attractive growth opportunities”.
