ComfortDelGro to acquire Young’s Bus Service for A$17.5M

ComfortDelGro taxi in SingaporeComfortDelGro taxi in Singapore

ComfortDelGro has entered a deal to acquire Queensland, Australia-based Young’s Bus Service from Phyllis Young, Philip Young and David Young for A$17.5 million, or around S$17.53 million, the Singapore-listed taxi and bus operator said in a filing to SGX Wednesday.

“The acquisition will enable CDC to expand its bus operations in Queensland, where it already operates 155 buses,” the company said. “Upon completion of the acquisition, CDC’s bus fleet in Queensland will increase to 197 buses with the total number of buses operated in Australia increasing to close to 2500 buses.”

Young’s Bus Service, the largest bus operator in Rockhampton, operates urban regional bus and school bus service contracts under long-term deals with the State Department of Transport and Main Roads for Queensland, the filing said.

The bus operator manages two depots and operates a fleet of 42 buses, and the acquisition will include the recently constructed Yeppoon Depot, ComfortDelGro said.