- ComfortDelGro’s wholly-owned subsidiary CityFleet Networks is acquiring a 100% stake in Addison Lee – which operates one of the largest fleets of premium private hire vehicles in London, including managed vehicles, executive cars, chauffeuring services, and courier services for GBP269.1m (S$461.2m).
- - Read this at SGinvestors.io -
- ComfortDelGro intends to fund the purchase with external borrowings as it needs to pay-off Addison Lee’s existing debt facilities in full upon completion.
Enhancing premium P2P capability globally
- Management believes this acquisition will serve as a catalyst for ComfortDelGro’s expansion into the premium mobility market, thus strengthening its overall point-to-point (P2P) proposition in the UK.
- - Read this at SGinvestors.io -
Expects strong synergies with existing businesses
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Eric Ong Maybank Research | https://www.maybank.com/ 2024-10-25
Previous report by Maybank:
2024-09-04 ComfortDelGro - Wins 3 Bus Franchises In Australia; Gaining Momentum.
Price targets by 5 other brokers at ComfortDelGro Target Prices.
Listing of research reports at ComfortDelGro Analyst Reports.
Relevant links:
ComfortDelGro Share Price History,
ComfortDelGro Announcements,
ComfortDelGro Dividends & Corporate Actions,
ComfortDelGro News Articles
