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Aussie acquisition to propel ComfortDelGro’s growth forward

Michelle Zhu
Michelle Zhu12/22/2016 11:47 AM GMT+08  • 2 min read
Aussie acquisition to propel ComfortDelGro’s growth forward
SINGAPORE (Dec 22): RHB and CIMB are reiterating their “buy” calls on ComfortDelGro at higher target prices of $2.91 and $3.24 respectively.
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SINGAPORE (Dec 22): RHB and CIMB are reiterating their “buy” calls on ComfortDelGro at higher target prices of $2.91 and $3.24 respectively.

This comes after the transport group on Wednesday announced it had entered into a share sale agreement with Cabcharge Australia to acquire the remaining 49% of ComfortDelGro Cabcharge (CDC), one of the largest private bus operators in New South Wales (NSW) and Victoria, for about $196 million.

The acquisition is currently subject to approval by the Australian Foreign Investment Review board.

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