SMRT considering S$1.6b bid for Addison Lee. FAP Buy High Sell Low SGs Suffer!

[makapaaa]

http://www.channelnewsasia.com/news...=TWTCNA&utm_source=dlvr.it&utm_medium=twitter

<cite>Quote:</cite>SINGAPORE: Singapore public transport operator SMRT is said to be considering a takeover bid for Addison Lee, London's biggest minicab operator. Britain's Sky News reported on Saturday (Oct 11) that SMRT is in the early stages of making an offer of £800 million (S$1.6 billion).

SMRT cannot be reached to confirm its interest in the bid.

Addison Lee is being put up for sale by its private equity owner, Carlyle Group, which paid £300 million for a majority stake in April 2013. According to a source close to the company, Carlyle has decided to start an auction process after receiving unsolicited offers for the business.

Besides SMRT, it is believed that private equity firms BC Partners, CVC Capital and Charterhouse are among the organisations making bids.

In September, SMRT announced its tie-up with Hailo, the London-based taxi booking application developer. SMRT and Hailo are expected to launch their services this month.​

 

[shittypore]

Think running a Cab Co. in Lonton like Sinkiepoor where drivers all can be treated like slaves! bet 2yrs go bankrupt like Comfort in PRC land.

 

[ontheA1]

If they lose money in London they can raise fares here high high to recoup losses.