Viad jumps on plan to sell GES business to Truelink Capital for $535 mln

Pursuit Attractions and Hospitality

21/10/2024 13:16

** Shares of hospitality services provider Viad Corp  VVI.N 
up 9.3% at $39.09 before the bell 
    ** Company says it has entered into an agreement to sell its
GES business to Truelink Capital for $535 million
    ** Viad operates through two businesses - Pursuit and GES
    ** While GES offers global exhibition and marketing services
to organizers and brands, Pursuit owns and operates leisure and
recreational destinations in U.S., Canada, and Iceland
    ** Sales of GES to Truelink is expected to close by the end
of 2024
    ** Upon completion of the deal, Viad says it intends to
change its corporate name and relaunch as Pursuit and change its
NYSE common stock ticker symbol to "PRSU"
    ** Up to Friday's close, stock had fallen 1.2% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam))