HLO updates market on timing of Magellan takeover.
Helloworld Travel ceo Andrew Burnes has just announced that the company now expects the acquisition of Magellan Travel Group will be completed by the end of this month.
In an ASX update he said the company had initially believed the transaction would settle in early January – as per the announcement released by the company at 7.05pm on Friday 22nd December.
“However due to some complexities with the Magellan membership structure it has taken longer than initially anticipated for Magellan to complete the transaction,” Burnes said.
“We are confident that the transaction will now complete by the end of the month.”
The Helloworld Travel ceo also confirmed that the company would release its half yearly results on Monday 19th February.
More details in Monday’s issue of Travel Daily.