December 8, 2017 / 9:53 AM / 9 days ago

Singapore's ComfortDelGro buying majority stake in Uber unit for $218 mln

Dec 8 (Reuters) - Singapore’s ComfortDelGro Corp said on Friday it is buying a 51 percent stake in private hire vehicle fleet owner Lion City Holdings from Uber Technologies’ unit Mieten B.V. for S$295 million ($217.99 million) in cash.

Lion City Holdings owns Lion City Rental, which runs a fleet of 14,000 vehicles.

ComfortDelGro said in a statement that it was in the process of finalising additional collaboration opportunities with Lion City Rental. ($1 = 1.3533 Singapore dollars) (Reporting By Rushil Dutta in Bengaluru; Editing by Muralikumar Anantharaman)

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