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Kelsian Group cuts tourism asset sale price to $145.8M
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Kelsian Group cuts tourism asset sale price to $145.8M

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  • Kelsian Group has revised its planned tourism portfolio sale to Journey Beyond after removing SeaLink Rottnest from the deal.
  • The adjustment lowers the total cash consideration for the assets from $161 million to $145.8 million.
  • The strategic decision allows Kelsian to retain the profitable standalone Rottnest ferry operations while continuing its focus on contracted transport services.

Kelsian (ASX:KLS) has updated its tourism divestment agreement with Journey Beyond, reducing the total transaction price to $145.8 million following regulatory review.

The initial agreement announced in February priced the entire portfolio divestment at $161 million.

"Having removed SeaLink Rottnest from the transaction perimeter, we are confident we have a compelling case for ACCC approval of the remaining tourism portfolio transaction. We continue to expect the sale to complete in 1HFY27," said Kelsian CEO Graeme Legh.

The revised deal excludes SeaLink Rottnest, which the company will retain and operate as part of its ongoing Western Australian marine network.

The transaction remains subject to approval from the Australian Competition and Consumer Commission, with completion anticipated in the first half of fiscal year 2027.

Following the announcement, the Kelsian share price was unchanged at $4.68.

Proceeds from the sale will be directed towards debt reduction and strategic expansion within contracted transport divisions.

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