Helloworld set to merge with AOT Group

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Last Updated: 19/06/2019 2:45 PM

Helloworld Limited (ASX:HLO) is set to merge with AOT Group Limited to create a single travel company.
The transaction will be structured as the acquisition of AOT Group by Helloworld, with the consideration being 218.7 million Helloworld shares and $25 million in cash.
The cash consideration for the transaction will be funded through Helloworld’s existing undrawn debt facilities.
Helloworld told shareholders that AOT Group brings significant strength in inbound and wholesale travel management and will bolster Helloworld’s existing retail, wholesale and government travel business.
Helloworld recorded a net loss of $201.11 million at 30 June 2015.