CDG divests two subsidiaries in China for S$22.4m

Shenyang bus and Suzhou taxi subsidiaries sold.

ComfortDelGro Corporation Limited (ComfortDelGro) announced that its wholly-owned subsidiary, ComfortDelGro (China) Pte Ltd, has divested its 80% interest in the registered capital of Shenyang ComfortDelGro Anyun Bus Co., Ltd at a cash consideration of RMB83.3 million (approximately S$17.2 million) based on its net asset value.

Suzhou Comfort Taxi Co., Ltd, a subsidiary of ComfortDelGro, has disposed its entire 100% interest in the registered capital of its subsidiary, Suzhou Comfort Toyota Sales & Service Co., Ltd, for a cash consideration of RMB25 million (approximately S$5.2 million) based on its net asset value.

The above divestments are 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 2014.

None of the Directors of ComfortDelGro has an interest, direct or indirect, in the above transactions. No controlling shareholder of ComfortDelGro has an interest, direct or indirect, in the above transactions.