ComfortDelGro to acquire certain assets of Rothery's Coaches in Australia for A$6.75m

CDC South East Queensland (CDC SEQ), a subsidiary of transport operator ComfortDelGro C52 's wholly-owned subsidiary ComfortDelGro Corporation Australia, will acquire certain assets of Rothery's Coaches business in Rockhampton, Queensland for a total consideration of A$6.75 million (S$6.74 million).

This transaction will add another 16 buses to the existing bus operations of CDC SEQ in Rockhampton, the company said in a filing to the Singapore Exchange on Tuesday (Mar 15).

CDC SEQ had entered into an agreement with Keydale, Keydale Holdings, Barry Stephen Rothery and Roslyn Ann Rothery on Mar 10 to acquire these selected assets.

The total consideration was arrived at on a "willing buyer willing seller" basis after taking into account the book value and net tangible asset value of the identified assets, among other factors.

The transaction has no material impact on ComfortDelGro's net tangible assets or earnings per share for the fiscal year ending December 31, said the company.

Shares of ComfortDelGro ended Tuesday at S$1.36, down 0.7 per cent or S$0.01.