ST Engineering Disposes of Stake in CityCab to ComfortDelGro

MT Newswires

09/01

ST Engineering (SGX:S63) disposed of its 46.5% stake in CityCab to ComfortDelGro (SGX:C52) for SG$116.3 million, according to a Monday filing with the Singapore Exchange.

The company will use proceeds from the divestment to pay down its debt, while ComfortDelGro will now have a 100% stake in the Singapore-based taxi operator.

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