Webjet Ltd
(ASX:WEB) has entered an agreement to sell its Zuji business in Hong Kong and Singapore for $56 million, which is a $26 million gain over the original purchase price.
Webjet will sell its online travel agency to two companies – Reckon Holdings Ltd and Sharp Focus Pacific Ltd.
As part of this deal, Webjet will provide “transitional services” on a fee-for-service basis for 12 months to assist with the smooth transition of the Zuji business to the new owners.
This transaction is expected to complete by 28 February 2017.
In addition, Webjet announced that its EBITDA guidance this financial year is $78 million.
Webjet posted a net profit of $22.2 million at 30 June 2016.
