Sydney Airport Image Sourced ShutterStock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Corporate Travel Management (ASX:CTD) completes its purchase of Helloworld (HLO) for $175 million
  • CTD plans to integrate Helloworld’s corporate and entertainment brands immediately, including QBT, TravelEdge, APX, Atlas Travel, AOT Hotels and Show Group
  • Its initial focus will be on welcoming customers, establishing customer engagement plans, and using its technology and scale to optimise travel policies
  • The move positions the company as the travel management provider for over a quarter of ASX 200 listed companies
  • On market close, CTD shares were trading 0.13 per cent lower today at $23.72 while HLO shares fell 1.26 per cent to $2.35 each

Corporate Travel Management (CTD) has completed its acquisition of Helloworld (HLO) for $175 million.

Late last year, the company announced its plans to take over the travel agent.

CTD will integrate Helloworld’s corporate and entertainment brands immediately, including QBT, TravelEdge, APX, Atlas Travel, AOT Hotels and Show Group.

Its initial focus will be on welcoming customers, establishing customer engagement plans, and using its technology and scale to optimise travel policies.

The move positions the company as the travel management provider for over a quarter of ASX 200 listed companies while expanding its presence in the government and education sectors.

The acquisition was funded by an equity raising of $75 million as well as issuing 3.58 million CTD shares to Helloworld.

On market close, CTD shares were trading 0.13 per cent lower today at $23.72 while HLO shares fell 1.26 per cent to $2.35 each.

CTD by the numbers
More From The Market Herald
The Market Herald Video

" BetMakers (ASX:BET) signs deal with Penn National Gaming

BetMakers (ASX:BET) awarded the rights to offer Penn National Gaming's racing content outside of the US…
Carsales (ASX:CAR) - Managing Director and CEO, Cameron McIntyre

" Carsales.com (ASX:CAR) raises $842m for Trader Interactive acquisition

Carsales.com (ASX:CAR) has raised $842 million from its institutional entitlement offer to help fund its acquisition…
The Market Herald Video

" Pilbara Minerals (ASX:PLS) set to increase production at Pilgangoora

Pilbara Minerals (ASX:PLS) is set to increase spodumene production at its Pilgangoora operation to 680,000 dry…
The Market Herald Video

" Liontown Resources (ASX:LTR) lands offtake agreement with Ford, reaches FID decision

Liontown Resources (ASX:LTR) has executed a binding offtake agreement and funding facility with global automaker, Ford.