Spy­ros makes a move

Travel Bulletin - - ISSUES & TRENDS -

In­dus­try vet­eran Spy­ros Alysan­dratos clearly be­lieves in the fu­ture of Hel­loworld, last month spend­ing al­most $17 mil­lion to boost his stake in the com­pany. The sur­prise ac­qui­si­tion fol­lowed the di­lu­tion of the stakes of all share­hold­ers due to the merger with AOT, which saw the in­vest­ment by Alysan­dratos’ Sin­tack Pty Ltd re­duce from 19.9% to around 13%. Alysan­dratos pur­chased 7.2 mil­lion shares from ex­ist­ing ma­jor share­hold­ers UBS Aus­tralia and CVC’S Europe Voy­ager, in the process lift­ing his stake back to 19.9% and mak­ing him the se­cond big­gest holder af­ter new CEO and ex­ec­u­tive di­rec­tor An­drew and Cinzia Burnes who have 40% of the com­pany. The pur­chase puts Sin­tack’s share­hold­ing in the com­pany slightly ahead of the stake held by Qan­tas, and should give fur­ther mus­cle to the voice of his rep­re­sen­ta­tive on the Hel­loworld Board, Peter Spathis. The sell­down by UBS and CVC con­tin­ues their grad­ual exit from the Hel­loworld share registry, with CVC’S Europe Voy­ager now down to 12.3% while UBS Aus­tralia has just 1.3% re­main­ing. Alysan­dratos, whose in­dus­try in­ter­ests also in­clude Con­sol­i­dated Travel and 50% of the Ex­press Travel Group, didn’t com­ment on the move. But new Hel­loworld CEO An­drew Burnes - no doubt with a twin­kle in his eye - told trav­elbul­letin it was “a very good in­vest­ment by Spy­ros!”

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