Grab to buy Singapore's third-largest taxi company Trans-Cab for around $100 million

📆 20/7/2023 6:15 pm
📰 asiaonecom

⏱ Reading Time:
33 sec. here
2 min. at publisher
📊 Quality Score:
News: 16%
Publisher: 59%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

SINGAPORE - Ride-hailing giant Grab is acquiring Trans-Cab, Singapore’s third-largest taxi operator. The purchase – for an undisclosed amount but understood to be around $100 million – includes some 2,200 taxis and more than 300 private-hire vehicles which Trans-Cab owns. Sources told The Straits Times that negotiations started only two months ago, and the transaction is slated to be completed...

SINGAPORE - Ride-hailing giant Grab is acquiring Trans-Cab, Singapore’s third-largest taxi operator.

If concluded, Trans-Cab will be the first Singapore taxi company to be acquired by United States-listed Grab, which has been trying to buy a cab operator for several years now. But earlier in 2023, SMRT Taxis – which has since been rebranded as Strides – bought Premier Taxis, and their combined fleet of about 2,500 vehicles now exceed Trans-Cab’s. ComfortDelGro remains Singapore’s largest taxi operator with around 8,800 taxis, or just over 60 per cent of the market.The ride-hailing firm, which is in other businesses such as food delivery, finance, insurance and payments, has been incurring losses since it was started in 2012.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Grab to buy S’pore’s third-largest taxi company Trans-Cab: SourcesThey said negotiations started two months ago, and the transaction is slated to be completed this week. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »