Agency giant launches non-binding indicative offer to acquire 100% of Webjet shares.
Helloworld has tabled a bid to purchase all remaining shares in Webjet Group at 90 cents a share, which if approved would be funded through a combination of cash on balance sheet and new debt facilities.
After careful consideration of the proposal, Webjet has agreed to provide Helloworld with an opportunity to conduct due diligence, but notes this does not mean there is certainty that a transaction will go ahead.
Helloworld currently holds a 17.27% stake in Webjet.
More details in today’s issue of Travel Daily.