Announced

ComfortDelGro-backed CityFleet Networks to acquire Addison Lee for £269m.

Synopsis

ComfortDelGro-backed CityFleet Networks, a ground transportation provider operating a fleet of vetted & approved taxi, car and coach services, agreed to acquire Addison Lee, a private hire, courier and black taxi provider, for £269m ($349m). “Addison Lee is an established leader in serving the differentiated premium segment in London. Beyond expanding our footprint in the UK, this acquisition will enable us to use Addison Lee’s expertise to deepen and scale our premium point-to-point capability globally. It will also strengthen our overall point-to-point proposition, creating strong synergy with our existing businesses," Cheng Siak Kian, ComfortDelGro Managing Director and Group CEO.

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