Magellan signs HLO transaction deal

Magellan signs HLO transaction deal

IT APPEARS to be full steam ahead for the acquisition of Magellan Travel Group by Helloworld Travel Limited (TD 19 Dec 2017), with HLO issuing a formal ASX statement at 7.05pm on the Fri before Christmas confirming “the parties have executed the formal transaction documentation”.

The ASX release says the deal is expected to complete in early January 2018.

Magellan chairman Andrew Jones has promised to provide further details of the benefits of the acquisition for existing Magellan members, in the face of opposition from what he described as a “small minority” of existing members.

See tomorrow’s Travel Daily for an exclusive update.

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Source: traveldaily