ComfortDelGro gets rid of 55% stake in Beijing unit

The interest in Beijing ComfortDelGro Yin Jian Auto Services is being sold for S$2.69 m.

In a release, ComfortDelGro Corporation Limited wishes to announce that its wholly owned subsidiary, ComfortDelGro Pte Ltd, has divested its 55% interest in the registered capital of its subsidiary, Beijing ComfortDelGro Yin Jian Auto Services Co., Ltd for a cash consideration of RMB13.75 million (approximately S$2.69 million) based on the net asset value of the Subsidiary.

The above disposal is not expected to have any material impact on the net tangible assets per share and earnings per share of the ComfortDelGro Group for the year ending 31 December 2012.

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