Australian tourism and transport company SeaLink Travel Group Ltd. agreed to acquire the assets and operations of Kingfisher Bay Resort Group, based in Fraser Island, north of Brisbane, Australia, for A$43.0 million plus working capital adjustments.
Cosmos Australia Pty Ltd. and Tourism Leisure Corp. are selling the businesses as they focus on other investment opportunities in the country, according to a release.
The purchase will include two island resorts, namely Kingfisher Bay Resort and Eurong Beach resort, and Fraser Explorer Tours and the Fraser Island Ferry business.
The price being paid includes land and buildings, plant and equipment, three vehicular ferries, a 30-vehicle touring coach fleet, all contracts, licenses, intellectual property and goodwill.
The acquisition is subject to the fulfillment of certain customary conditions.