Brief: Travelzoo Enters Asset Purchase Agreement With Unit Of Azzurro Capital

Travelzoo

23/03/2022 20:59

March 23 (Reuters) - Travelzoo  TZOO.O :
    * TRAVELZOO - ON MARCH 17, CO ENTERED ASSET PURCHASE
AGREEMENT
WITH UNIT OF AZZURRO CAPITAL INC.
    * TRAVELZOO - ACQUIRED CERTAIN ASSETS, PRIMARILY COMPRISED
OF ALL
U.S. MEMBERS OF SECRET ESCAPES LIMITED
    * TRAVELZOO -  PURCHASE PRICE FOR TRANSACTION WAS $1.75
MILLION,
WITH $600,000 PAYABLE IN CASH & REMAINING $1.15 MILLION PAYABLE
IN THE FORM OF A CREDIT
    * TRAVELZOO - EXPECTS TRANSACTION TO RESULT IN LOWER
OPERATING
EXPENSES FOR THE COMPANY GOING FORWARD

Further company coverage:  TZOO.O 

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