SMRT considering S$1.6b bid for London's biggest minicab operator

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http://www.channelnewsasia.com/news/business/singapore/smrt-considering-s-1-6b/1409796.html

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).

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.

Responding to queries from Channel NewsAsia, SMRT said it is constantly looking out for investment opportunities that contribute to sustainable growth for its stakeholders.

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.

Singapore's largest taxi operator ComfortDelGro already has a presence in London after acquiring British cab company Comcab in 1997.