ComfortDelGro's Metroline Travel acquires London site for £3.6m
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METROLINE Travel, a wholly-owned indirect subsidiary of ComfortDelGro Corporation, on Thursday (Nov 25) acquired a property in Brentford, London, for £3.6 million (S$6.6 million).
The transaction adds a new 1.01 hectare site to Metroline Travel's holdings in London, allowing it to invest in the development of a new bus garage, mainboard-listed ComfortDelGro said on Friday (Nov 26) in a bourse filing.
The sellers are linked to Waterside Places - a joint venture between the waterways charity Canal & River Trust and UK developer Muse Developments.
The transport operator does not expect the deal to have any material impact on its net tangible assets or earnings per share for the financial year ending Dec 31, 2021. The transaction will be fully funded by cash through internal resources.
Shares of ComfortDelGro were trading 2.7 per cent or S$0.04 lower at S$1.46 as at 3.58 pm on Friday.
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