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2022-01-12

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ComfortDelGro Acquires 90% Stake in Ming Chuan Transportation for S$8.5m

Transport operator ComfortDelGro on Monday (Jan 10) said its subsidiary, ComfortDelGro MedCare (CDG

ComfortDelGro Acquires 90% Stake in Ming Chuan Transportation for S$8.5m

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The balance consideration will be paid to the Neo and Ng upon expiry of a 12-month period from the completion of the transaction, provided that, there are no claims against them as at the expiry of the 12-month period, said ComfortDelGro. The consideration will be fully satisfied in cash and funded through internal resources.The consideration was arrived at on a \"willing-buyer and willing-seller\" basis, taking into account the net book value of the business and assets of Ming Chuan Transportation, among others, the company added.The transaction is expected to be completed on Jan 24, said ComfortDelGro. Upon completion of the transaction, CDG MedCare and Neo will hold 90 percent and 10 percent of the issued capital of Ming Chuan Transportation respectively, and it will become an indirect subsidiary of ComfortDelGro.The transaction is not expected to have material impact on ComfotDelGro's net tangible assets per share or earnings per share the financial year ending Dec 31, 2022.ComfortDelGro shares last closed at S$1.36, down S$0.03 or 2.7 percent, on Friday (Jan 7) before the announcement.","news_type":1},"isVote":1,"tweetType":1,"viewCount":206,"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":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}