SINGAPORE (Dec 18): Taxi operator ComfortDelGro Corp has struck a deal with ride-hailing company Uber. On Dec 8, ComfortDelGro said it was acquiring a 51% stake in Uber’s car rental arm Lion City Rentals. The taxi operator is buying 12,450 cars out of Lion City Rental’s fleet of 14,000. Uber will retain the remaining 49% stake. The deal is valued at $642 million, with a cash consideration of $295 million, making this ComfortDelGro’s largest ever.

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