TRANSPORT group ComfortDelGro Corp is acquiring Melbourne bus company Driver Group for about A$22 million (S$26.8 million), in a move that will further expand its footprint Down Under.
The proposed acquisition, subject to regulatory approvals, is expected to be completed in July. It is made through CDC Victoria, a subsidiary of ComfortDelGro Cabcharge - a joint venture between ComfortDelGro and Cabcharge of Australia.
ComfortDelGro already operates bus services in both New South Wales and Victoria.
With the latest acquisition, CDC Victoria will have five metropolitan bus routes and a fleet of 42 vehicles. These buses will operate out of CDC Victoria's existing depots in Oakleigh.
Driver Group is an 82-year-old family-owned transport and tourism company based in Melbourne. It operates city bus routes under a long-term contract with the Victorian Government in the eastern suburbs of Melbourne.