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Ramesh17
2021-12-14

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ComfortDelGro to become UK's second largest coach operator with £8.75m acquisition

COMFORTDELGRO will soon become the second-largest intercity coach operator in the United Kingdom (UK

ComfortDelGro to become UK's second largest coach operator with £8.75m acquisition

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nComfortDelGro to become UK's second largest coach operator with £8.75m acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-14 19:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/comfortdelgro-to-become-uks-second-largest-coach-operator-with-£875m-acquisition><strong>businesstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>COMFORTDELGRO will soon become the second-largest intercity coach operator in the United Kingdom (UK) following a £8.75 million (S$15.8 million) deal with UK public transport provider Stagecoach Group...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/comfortdelgro-to-become-uks-second-largest-coach-operator-with-£875m-acquisition\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C52.SI":"康福德高企业"},"source_url":"https://www.businesstimes.com.sg/companies-markets/comfortdelgro-to-become-uks-second-largest-coach-operator-with-£875m-acquisition","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174676939","content_text":"COMFORTDELGRO will soon become the second-largest intercity coach operator in the United Kingdom (UK) following a £8.75 million (S$15.8 million) deal with UK public transport provider Stagecoach Group.\nAs part of 2 agreements, ComfortDelGro will acquire Stagecoach's remaining 35 percent stake in Scottish Citylink Coaches. Scottish Citylink, which became a 65 percent-owned subsidiary of ComfortDelGro in 2005, will then become a wholly-owned subsidiary.\nThe number of intercity coaches ComfortDelGro owns across the UK will increase to 150 from the current 100, said the company in a press statement on Tuesday (Dec 14).\nThe deal, which is expected to be completed in end-February next year, will result in ComfortDelGro securing an 11 percent market share in the country.\nScottish Citylink operates 19 long-distance express services within Scotland, linking Glasgow, Edinburgh, Aberdeen, Dundee, Stirling and Inverness as well as some rural Highland communities.\nComfortDelGro will also acquire the marketing, retail and customer service activities of Stagecoach's Megabus UK coach business and the Falcon coach service which operates in south-west England.\nMegabus, which commenced operations in August 2003, is a network of long-distance coach services linking 90 locations in England and Wales, and is known for its \"mega-value\" fares.\nThe Falcon Service, which was launched in 2016, is the first and only public transport link that connects Plymouth, Exeter, Cullompton, Wellington and Taunton with Bristol Airport and Bristol city center. It operates 19 journeys a day, 7 days a week.\nComfortDelGro's managing director and group chief executive Yang Ban Seng said that the acquisitions will help the company to grow its coach business in the UK.\n\"We intend to leverage on the experience we have gained in our existing operations to roll out new and innovative services for our passengers in England, Wales and Scotland as we position ourselves for post-Covid recovery,\" he said.\nWith UK being one of the company's most significant investment destinations, Yang said, the group will continue to look for growth opportunities.\nComfortDelGro's other operations in the UK include Metroline, the second-largest bus operator in London as well as taxi radio circuits in Liverpool and Aberdeen. It also offers private hire services in Liverpool.\nSaid Stagecoach chief executive Martin Griffiths: \"Through this transaction, Stagecoach ensures that the intercity-coach market in the UK remains robust and competitive; and we know that under the ownership of the world-renowned ComfortDelGro brand, these businesses will continue to thrive.\"\nShares of ComfortDelGro ended Tuesday at S$1.38, down S$0.01 or 0.7 percent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":936,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":6,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

ComfortDelGro to become UK's second largest coach operator with £8.75m acquisition

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