Post by The Dark Knight on Oct 25, 2024 11:01:34 GMT
ComfortDelGro, one of Singapore’s leading transport operators, is buying London’s largest operator of its famed black taxis in a deal worth almost $350 million.
On Wednesday, ComfortDelGro which, among other things, operates two lines of Singapore’s Mass Rapid Transit subway system, announced that its wholly owned subsidiary CityFleet Networks will acquire Addison Lee, the largest premium point-to-point operator in the U.K.
Upon completion, the deal will add 7,500 drivers and 5,000 vehicles to CityFleet’s existing private-hire and black taxi fleets throughout the U.K., including the cities of Liverpool and Aberdeen.
Addison Lee says it operates about 2,500 black cabs in London. That represents about 16% of the entire London taxi fleet of 15,100 cars, according to government data.
“This acquisition will enable us to leverage Addison Lee’s expertise to deepen and scale our premium point-to-point capability globally,” said ComfortDelGro CEO Cheng Siak Kian in a statement announcing the acquisition.
fortune.com/asia/2024/10/24/comfortdelgro-buys-addison-lee-london-black-cabs/
On Wednesday, ComfortDelGro which, among other things, operates two lines of Singapore’s Mass Rapid Transit subway system, announced that its wholly owned subsidiary CityFleet Networks will acquire Addison Lee, the largest premium point-to-point operator in the U.K.
Upon completion, the deal will add 7,500 drivers and 5,000 vehicles to CityFleet’s existing private-hire and black taxi fleets throughout the U.K., including the cities of Liverpool and Aberdeen.
Addison Lee says it operates about 2,500 black cabs in London. That represents about 16% of the entire London taxi fleet of 15,100 cars, according to government data.
“This acquisition will enable us to leverage Addison Lee’s expertise to deepen and scale our premium point-to-point capability globally,” said ComfortDelGro CEO Cheng Siak Kian in a statement announcing the acquisition.
fortune.com/asia/2024/10/24/comfortdelgro-buys-addison-lee-london-black-cabs/