The NZ Herald reports:
Infratil subsidiary NZ Bus is selling its interest in Auckland-based ferry operator Fullers Ferries for $40 million. Infratil said the deal took the amount it would receive from announced divestments to more than $100m in the 2009/10 financial year.
Fullers is being bought by Souter Holdings, which operates Howick & Eastern buses in Auckland and has a 74 per cent ownership of Mana Coachlines in Wellington.
NZ Bus chief executive Bruce Emson said the sale of Fullers signaled the intention of NZ Bus to focus on further developing its core land-based public transport business.
It will be interesting to see if Howick and Eastern come up with some kind of integrated ticket for the Half Moon Bay ferry. Waiheke’s Campaign 4 Fair Ferry Fares are worried that Waiheke pass holders will lose the current right to use NZ Bus and Waiheke Buses. They pay $315 a month for this.