Join our daily newsletter At The Bell to receive exclusive market insights
- Corporate Travel Management (ASX:CTD) completes its purchase of Helloworld (HLO) for $175 million
- CTD plans to integrate Helloworld’s corporate and entertainment brands immediately, including QBT, TravelEdge, APX, Atlas Travel, AOT Hotels and Show Group
- Its initial focus will be on welcoming customers, establishing customer engagement plans, and using its technology and scale to optimise travel policies
- The move positions the company as the travel management provider for over a quarter of ASX 200 listed companies
- On market close, CTD shares were trading 0.13 per cent lower today at $23.72 while HLO shares fell 1.26 per cent to $2.35 each
Corporate Travel Management (CTD) has completed its acquisition of Helloworld (HLO) for $175 million.
Late last year, the company announced its plans to take over the travel agent.
CTD will integrate Helloworld’s corporate and entertainment brands immediately, including QBT, TravelEdge, APX, Atlas Travel, AOT Hotels and Show Group.
Its initial focus will be on welcoming customers, establishing customer engagement plans, and using its technology and scale to optimise travel policies.
The move positions the company as the travel management provider for over a quarter of ASX 200 listed companies while expanding its presence in the government and education sectors.
The acquisition was funded by an equity raising of $75 million as well as issuing 3.58 million CTD shares to Helloworld.
On market close, CTD shares were trading 0.13 per cent lower today at $23.72 while HLO shares fell 1.26 per cent to $2.35 each.
