ComfortDelGro buys second bus from Shenyang
Singapore
October 28, 2005, 6.25 pm (Singapore time)
ComfortDelGro buys second bus firm in Shenyang
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COMFORTDELGRO on Friday said it will pay $73.2 million to acquire the operating rights of 50 bus routes, 1,218 buses and other operating assets from Shenyang's largest public bus operator, Shenyang Passenger Transport Group.
The latest bus venture, to be named Shenyang ComfortDelGro Bus Co Ltd, is the land transport giant's second in Shenyang -- the capital of Liaoning province in north-eastern China. The first, Shenyang ComfortDelGro An Yun Bus Company, was set up in 2004.
Together, the two companies will operate 1,763 public buses in the city, making ComfortDelGro the largest operator there with a 40 per cent market share.
Besides bus services, ComfortDelGro also operates taxi services in the city through CityCab(Shenyang) and Shenyang ComfortDelGro Taxi Co.
In September this year, the Singapore-listed company also announced that it had set up a driving school in Chengdu, the capital of Sichuan province.
The school, ComfortDelGro's first outside Singapore, is a $4.8 million joint venture with Chengdu Qing Yang Driving School Co, the Chinese city's largest driving school.
October 28, 2005, 6.25 pm (Singapore time)
ComfortDelGro buys second bus firm in Shenyang
Email this article
Print article
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COMFORTDELGRO on Friday said it will pay $73.2 million to acquire the operating rights of 50 bus routes, 1,218 buses and other operating assets from Shenyang's largest public bus operator, Shenyang Passenger Transport Group.
The latest bus venture, to be named Shenyang ComfortDelGro Bus Co Ltd, is the land transport giant's second in Shenyang -- the capital of Liaoning province in north-eastern China. The first, Shenyang ComfortDelGro An Yun Bus Company, was set up in 2004.
Together, the two companies will operate 1,763 public buses in the city, making ComfortDelGro the largest operator there with a 40 per cent market share.
Besides bus services, ComfortDelGro also operates taxi services in the city through CityCab(Shenyang) and Shenyang ComfortDelGro Taxi Co.
In September this year, the Singapore-listed company also announced that it had set up a driving school in Chengdu, the capital of Sichuan province.
The school, ComfortDelGro's first outside Singapore, is a $4.8 million joint venture with Chengdu Qing Yang Driving School Co, the Chinese city's largest driving school.
posted by SmartYInvestor at 10:08 PM
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