Express Travel Group’s plans to expand across the ditch by investing in First Travel Group have progressed.
Shareholders of New Zealand’s First Travel Group (FTG) have voted in favour of moving to the next stage of the proposed investment by Express Travel Group (ETG) Australia.
Under the proposed deal, FTG members would retain a 25% shareholding in the new company.
“The increased scale and synergies that the FTG/ETG partnership brings to the table will benefit both members and supplier partners,” ETG CEO Tom Manwaring said.
The deal is expected to be completed by the end of Mar.
More in today’s edition of Travel Daily.