Singapore's ComfortDelGro buys Chinese taxi firm

Singapore's transport firm ComfortDelGro Corporation said on Friday it had further increased its presence in China through the purchase of China-based Jia Run Taxi.

The deal, which was made through its subsidiary Beijing Jin Jian Taxi Service, would bring the group's total vehicle fleet in China to about 13,000 vehicles.

Under an agreement, Beijing Jin Jian acquired Jia Run Taxi 76 million yuan ($11.13 million). The acquisition increases ComfortDelGro's taxi fleet in the city by 342 vehicles to 5,421.

ComfortDelGro also increased its shareholding in Chongqing ComfortDelGro Driver Training from 80 per cent to 90 per cent by paying 6.4 million yuan for the additional 10 per cent of shares.

ComfortDelGro currently has a fleet of 110 vehicles catering to an annual student enrolment of about 10,000 in Chongqing's largest driving school.