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ComfortDelGro buys Australian bus operator for $27m

Singapore Business Review logo Singapore Business Review 24/4/2019 Staff Reporter
a car parked on the side of a road: ComfortDelGro buys Australian bus operator for $27m © Provided by Charlton Media Group ComfortDelGro buys Australian bus operator for $27m

The latest acquisition follows the $182.5m (A$190.9m) purchase of the Buslink Group.

ComfortDelGro acquired Australian bus operator B&E Blanch for $27m (A$28.3m), marking as its sixth acquisition in Australia over the last 12 months.

Blanch's, which has a fleet of 48 buses and coaches and operates as Blanch's Bus Company and Brunswick Valley Coaches, runs scheduled route and school bus services in the Ballina, Lennox Head, Byron Bay, and Mullumbimby areas of Northern NSW.

It also has charter services, in particular the provision of transport services for the annual music festivals held in the Byron Bay area.

"We have been actively pursuing investment opportunities in Australia and other countries, as we strengthen our foundation for the next phase of growth," said ComfortDelGro's managing director and group CEO, Yang Ban Seng.

The latest acquisition follows the $182.5m (A$190.9m) purchase of the Buslink Group. The deal, which was announced in October 2018, marks the group's largest single ever investment in Australia by far.

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