Plan for Webjet to split in two to proceed after results of Extraordinary General Meeting this morning.
After mulling plans to create two separate ASX-listed companies comprised of its B2B and B2C divisions, Webjet has been given the green light by shareholders today to take advantage of divergent growth opportunities for its WebBeds and Webjet OTA arms.
Benefits of the separation include two management teams tailored to focus on growth ambitions for each division, independent capital structures, access to new investors, and the ability to respond more quickly to changing travel conditions.
While Webjet OTA has been demonstrating solid financial gains, WebBeds has taken over as the company’s fastest growing division, and has been producing the lion’s share of revenue.
More details in today’s issue of Travel Daily.