Kinetic Group, the largest bus operator in Australasia and a dominant player in bus and rail operations globally, makes close to $450 million in earnings and is riding the crest of megatrends like decarbonisation, urbanisation and digitisation.

That’s the pitch from sell-side adviser Macquarie Capital in a sale flyer sent to prospective strategic and financial investors and seen by Street Talk. Interested parties are being told Kinetic will likely fetch a sale multiple in the low teens based on recent comparable transactions, implying a $4 billion-plus deal is on the cards.