$2 million-plus deal settled this morning.
Corporate Travel Management has just confirmed the issue of 106,336 fully paid shares to the Zazi Investment Trust, “as part consideration for the acquisition of 1000 Mile Travel Group, an Australian-based supplier of travel management solutions, which completed today”.
The shares, valued at just over $2.04 million, are based on the volume weighted average price of CTM over the last few weeks.
1000MTG is led by Ben Ross and Nicola Veltman, and was a member of the Helloworld for Business TMC network. The business operates a distributed network of about 30 corporate travel specialists across Australia as well as an office in the UK which is part of the Advantage Travel Partnership consortium.
More details in today’s issue of Travel Daily.