ComfortDelGro plans expansion in Australia with A$53 million bus acquisition
SINGAPORE - ComfortDelGro Corporation is acquiring one of the largest private regional bus companies with operations in Canberra to increase its presence in Australia.
The proposed A$53 million acquisition of Deane's Bus Lines and Transborder Express - both of which are part of Deane's Transit Group (DTG) - will be made through ComfortDelgro's 51 per cent-owned subsidiary ComfortDelGro Cabcharge (CDC). CDC is a joint venture between ComfortDelGro and Cabcharge of Australia, and operates bus services in New South Wales and Victoria. ComfortDelGro also operates taxi services in Perth.
DTG has been operating government contract routes, school bus and charter services in New South Wales and Canberra for nearly 25 years. It has a fleet of 97 buses and operates out of two depots.
The company said there is strong travel demand for bus services in the region, with strong population growth.
The acquisition is subject to regulatory approval and due diligence, and will cement CDC's position as the largest private bus operator in Australia with a total fleet of over 1,500 buses.
02 August 2012
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