The commercial arms of iwi Ngāi Tahu and Tainui are selling Go Bus, the largest passenger service operator in New Zealand.
Go Bus is New Zealand's largest bus operator. Photo: Go Bus
Go Bus, which operates more than 1700 vehicles from Auckland to Invercargill, has been purchased by Melbourne-based company Kinetic.
Kinetic already operates SkyBus in Auckland, but will now take over the existing transport contracts of Go Bus, subject to Overseas Investment Office approval.
Ngāi Tahu Holdings chair Mark Tume said the sale of the company will be used to strengthen the iwi balance sheet.
Tainui Group Holdings chairman Sir Henry van der Heyden said he is proud of how the two iwi have successfully invested on behalf of their tribal members.