Tag Archives: Addison Lee

SMRT BACKTRACKS ON £800 MILLION PLANS TO BID FOR LONDON CAB OPERATOR

SMRT said on Monday (Oct 13) it has decided against making a takeover bid for Addison Lee, London’s biggest minicab operator. In a statement to the Singapore Exchange, SMRT said it had been approached by an investment bank on the possible sale of Addison Lee. "Having considered the matter, the company has decided not to make a bid at this stage to acquire Addison Lee," the company said.

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SMRT TO BUY LONDON CAB OPERATOR ADDISON LEE FOR £800 MILLION

One of Singapore's largest transport groups is examining an £800m takeover bid for Addison Lee, London's biggest minicab operator. Sky News has learnt that SMRT Corporation, which is listed on the Asian city state's stock exchange, is at the early stages of considering an offer. Addison Lee's owner, the private equity group Carlyle, has kicked off an auction of the company for which it paid £300m just 18 months ago.

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