SHAREHOLDERS of Australian taxi network operator A2B voted in favour of ComfortDelGro’s acquisition on Monday (Mar 25), with 97.7 per cent of votes cast for the proposed deal.
On Dec 22, ComfortDelGro Corporation Australia proposed to acquire all shares in A2B Australia that it does not already own via a scheme of arrangement, in which the land transport operator will pay A$1.45 (S$1.27) in cash per share.
Before the proposed acquisition, ComfortDelGro and its Australian subsidiary Swan Taxis held about 9.3 per cent of A2B, which is listed on the Australian Securities Exchange. The Australian taxi network operator’s offerings range from taxi services brands to cab-charge digital payment solutions.
ComfortDelGro said that the orders approving the scheme will be sought from the Supreme Court of New South Wales on Mar 28. The transaction is expected to be implemented in April 2024, subject to satisfaction of all other applicable conditions.
“Upon completion, A2B’s 8,000-vehicle network will join ComfortDelGro’s current 21,300 strong global taxi fleet,” added ComfortDelGro.
ComfortDelGro’s managing director and group chief executive Cheng Siak Kian said: “A2B is an excellent strategic fit that will allow us to grow our point-to-point offering and deepen our presence in the Australian market as a multi-modal mobility operator.”
Shares of ComfortDelGro were trading up 1.5 per cent, or S$0.02, to S$1.40 as at 9.11 am on Monday.
