Yahoo Finance A2B shareholders give go-ahead for ComfortDelGro deal
The deal will be completed next month
Shareholders of A2B Australia have given their go-ahead for ComfortDelGro C52 to acquire their company, with 97.73% of eligible votes cast in favour.
The deal, first announced last December, will be completed next month.
ComfortDelGro already owns 9.25% of the ASX listed and is offering A$165.1 million to acquire the rest of the shares.
A2B is a leading Australian taxi network and major technology and payment solutions provider in the transport industry.
It runs taxis such as 13cabs and Silver Service, a booking dispatch platform MTI, and the Cabcharge payment solution.
Following the completion of the acquisition, A2B will join ComfortDelGro’s growing 21,300-vehicle-strong global taxi business which includes operations in Singapore, China, Australia and the United Kingdom.
"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," says ComfortDelGro's managing director and group CEO Cheng Siak Kian.
"We look forward to a smooth transition and welcoming A2B into the ComfortDelGro family," he adds.
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