ComfortDelGro expands Australia operations with S$136.2m worth of acquisitions

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SINGAPORE (Aug 8): Land transport operator ComfortDelGro (CDG) is acquiring privately-run family bus and coach operator FCL Holdings, two freehold depot sites and a coastal operator for a total of A$134.45 million (S$136.2 million) as part of its expansion plans in Australia.

In a Wednesday filing, CDG says its A$110 million acquisition of Sydney’s FCL Holdings, which runs Forest Coach Lines in Northern Sydney and regional New South Wales (NSW), ranks as its second-biggest investment in Australia, coming in second only to the group’s 2008 purchase of the Kefford Group for A$149.2 million.

For the operation of FCL’s bus services, CDG is also acquiring Terry Hills Depot and Toormina Depot at a total cost of A$15.45 million... (Click here to read the full story)