CORPORATE Travel Management (CTM) has completed its acquisition of Corporate Travel Planners (TD 24 Dec 2019), with the Texas-based specialist now part of the CTM Group.
The deal sees CTM bolster its presence in the US and the agreement includes an initial payment of US$18m (AU$26.5m), consisting of 10% CTM stock and 90% cash, to be followed by up to another US$18 million ($26 million), subject to achievement of future profit goals.
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Source: traveldaily