ComfortDelgro sells stake in China joint venture for 5.1 mln yuan

ComfortDelgro Corp Ltd said its wholly-owned unit ComfortDelgro (China) Pte Ltd has sold its entire stake in joint venture company, Beijing ComfortDelgro Ya Tai Intelligence Transportation Technology Co Ltd to its venture partner Yatai Anxun Network Electronic Technology Co Ltd for 5.1 mln yuan. The sale of its 60 pct interest was the result of Yatai Anxun being unable to get approval from the Beijing Authorities to transfer their operating license to the joint venture company, ComfortDelgro said in a statement.