Helloworld shareholders have voted in favour of the acquisition of Express Travel Group.
Helloworld will acquire a 100% stake in Express Travel Group after 99.75% of its shareholders voted in favour of the $70 million acquisition during the company’s special General Meeting this morning.
The transaction is expected to expand Helloworld’s existing retail network presence in Australia and New Zealand, with the price based on a seven times multiple of ETG’s FY23 estimated earnings.
More details in today’s issue of Travel Daily.