Brief: Helloworld Travel To Divest Its Corporate And Entertainment Travel Businesses In Australia And New Zealand

Helloworld Travel

15/12/2021 01:47

Dec 15 (Reuters) - Helloworld Travel Ltd: 
    * HLO TO DIVEST CORP & ENTERTAINMENT TRAVEL BUSINESS IN AU,
NZ
    * HELLOWORLD TRAVEL LTD -  ENTERPRISE VALUE OF A$175 MILLION
    * HELLOWORLD TRAVEL - HLO WILL RECEIVE TRANSACTION
CONSIDERATION
OF A$100 MILLION IN CASH AND A$75 MILLION IN CTM SHARES
    * HELLOWORLD TRAVEL LTD -  TRANSACTION WILL INCREASE TOTAL
LIQUIDITY TO A$155 MILLION INCREASING NET CASH TO A$85 MILLION
    * HELLOWORLD TRAVEL - CASH CONSIDERATION WILL BE USED TO
REPAY
DEBT, SUPPORT GROWTH OPPORTUNITIES FOLLOWING COVID-19
DISRUPTION, AMONG OTHERS
    * HELLOWORLD TRAVEL LTD -  TO DIVEST ITS CORPORATE AND
ENTERTAINMENT TRAVEL BUSINESSES IN AUSTRALIA AND NEW ZEALAND TO
CORPORATE TRAVEL MANAGEMENT
    * HELLOWORLD TRAVEL - EXPECTS TO RECOGNISE A PROFIT ON SALE

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 (Reuters.briefs@thomsonreuters.com)