ComfortDelGro offer declared unconditional

All conditions in the Bidders Statement have been fulfilled and the compulsory acquisition process for Swan Taxis will begin.

As at 10 September 2010, ComfortDelGro has received acceptances representing more than 93% of all the shares in Swan Taxis, according to a ComfortDelGro announcement. The Australian Competition and Consumer Commission would not oppose ComfortDelGro’s the said acquisition.

Upon the completion of the compulsory acquisition in accordance with the Australian Corporations Act 2001, Swan Taxis will become a wholly-owned subsidiary of ComfortDelGro.

As Swan Taxis owns 2,631,004 shares in Cabcharge Australia Limited, ComfortDelGro will increase its effective interest in Cabcharge from 7.46% to 9.64% when the acquisition is completed.