FLT to Sell 47% Pedal Group Stake for A$61.7m

NewTimeSpace News: On April 8, 2026, FLT announced that it has entered into a binding agreement to sell its 47% stake in the bicycle joint venture Pedal Group to Turner Collective. The transaction values FLT's interest in the joint venture at A$61.7 million and is subject to shareholder approval and regulatory conditions, with completion expected next month.

FLT's non-executive chairman Gary Smith stated that the divestment is part of the company's ongoing portfolio simplification and strategic reallocation of capital toward its core travel businesses.

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