HLO offloads US wholesaler

HLO offloads US wholesaler

HELLOWORLD Travel has taken a further step in its plan to dispose of non-core investments with the sale of its stake in US-based outbound wholesaler Down Under Answers (TD breaking news).

Completion of the sale was announced to the ASX today, with the deal including a three-year exclusive arrangement in which Down Under Answers will source product from Helloworld’s Australian and New Zealand inbound business, AOT Inbound.

Helloworld said although the 33.3% stake in the company and the proceeds from its sale were “not material”, the transaction was an important strategic step in streamlining the group.

“We look forward to continuing to work with the team at Down Under Answers in providing them with our great products and services in Australia and New Zealand,” said Helloworld Travel ceo Andrew Burnes.

Source: traveldaily