Deane's sold


Deane’s Bus Lines has been sold for $53 million

Deane's sold
Deane's sold
August 3, 2012

Deane’s Bus Lines has been sold to ComfortDelGro Cabcharge (CDC) for $53 million.

CDC, a joint venture between Singapore-based ComfortDelGro Corporation and taxi payment operator Cabcharge Australia,
announced yesterday it had agreed to purchase the Queanbeyan bus operator.

Cabcharge group executive chairman Reg Kermode
says the acquisition of Deane’s Bus Lines and Transborder Express – both
part of Deane’s Transit Group (DTG) – will increase CDC’s operations in the Australian transport industry.

Kermode says CDC plans
to grow as a private bus operator in Australia with a fleet of more than 1,500 buses.

"We remain excited and committed to have the opportunity to assist government to provide quality and efficient services to the community in line with government policy," Kermode says.

Deane’s is the largest regional bus operator in southern NSW and is based in Queanbeyan with services operating into Canberra.

With a fleet of 97 buses currently operating out of two depots, DTG has been operating government contract routes, school bus and charter services in NSW and the ACT for almost 25 years.

CDC
operates bus services in NSW and Victoria.

Queanbeyan is a regional centre in the Southern Tablelands of
NSW adjacent to the ACT.

According to Cabcharge, Queanbeyan has witnessed strong population growth of more than 70 percent in the past 15 years, with expectations it will expand another 50 percent in the next decade.

Cabcharge says about 70 percent of Queanbeyan’s adult population works in Canberra, creating strong demand for bus services.

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