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TRANSPORT & LOGISTICS | Staff Reporter, Singapore

ComfortDelGro buys 51% stake in CDGI

It has a total cash consideration of $22.9m.

ComfortDelGro Corporation Limited (CDG) announced that it has acquired 51% stake in ComfortDelGro Insurance Brokers Pte Ltd (CDGI) from Global East Investments Pte Ltd for $22.9m, in accordance with their joint venture agreement inked in September 2003.

CDGI’s services include insurance broking, risk management, and claims management in Singapore.

CDGI is now a wholly owned subsidiary of CDG.

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