ComfortDelGro Corporation Ltd (SGX: C52)
ComfortDelGro Corporation, or CDG, announced that its wholly-owned subsidiary in Australia, ComfortDelGro Corporation Australia Pty Ltd, has sealed an agreement to acquire all the shares of A2B Australia Limited (ASX: A2B). The cash offer price is A$1.45 and values A2B at A$182 million. A2B is an Australian taxi network and is also a major technology and payment solutions provider for the personal transport industry. It offers a booking dispatch platform called MTI and the Cabcharge payment solution along with taxi service brands 13cabs and Silver Service. Currently, CDG and its subsidiaries own a 9.25% stake in A2B. The consideration for the remaining 90.75% stake in A2B amounts to A$165.1 million and will be funded by existing cash reserves and bank loans. The consideration does not include the payment of a special dividend by A2B of A$0.60 per share....Welcome to the latest edition of top stock market highlights.
