TradingMarkets.com
19 Jun 2008
SINGAPORE, Jun 19, 2008 (Thomson Financial via COMTEX) -- CGAAF | Quote | Chart | News | PowerRating -- Transport operator ComfortDelGro Corp. said on Thursday it will raise its stake in Australian-listed electronic payment systems maker Cabcharge Australia Ltd. to 7.46 percent from 5.0 percent through a share swap agreement.
CabCharge will issue 3.118 million new shares to ComfortDelGro in return for a 16 percent stake in ComfortDelgro's unit, CityFleet (U.K.) Pte. Ltd.
"The transaction will result in an exceptional gain of S$26.5 million and an increase ComfortDelGro's net asset value per share and earnings per share by 1.27 cents each for the year ending Dec. 31, 2008," the Singapore transport operator said in a statement.
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