HLO buys de­tailed

Travel Daily - - News -

THIS morn­ing’s Hel­loworld Travel re­sults an­nounce­ment in­cluded con­fir­ma­tion that the com­pany now holds 12% of the Hunter Travel Group.

The deal took place al­most 12 months ago ( TD 31 Aug 2017), with Hel­loworld pay­ing $400,000 in cash and a fur­ther $600,000, in the form of a 75% in­ter­est in a com­pany called HTG Aus­tralia Pty Ltd, which owned seven com­pany-held re­tail stores.

Hel­loworld Travel Limited con­tin­ues to re­tain 25% of HTG Aus­tralia Pty Ltd, with the Hunter Travel Group hold­ing the re­main­ing 75%.

Cooney In­vest­ments Pty Ltd, the com­pany be­hind Hel­loworld Mackay, is 20% owned by HLO which paid $500,000 in cash and $300,000 in shares for the firm.

And the joint ven­ture with in­dige­nous TMC In Travel Group ( TD 19 Jan) sees HLO with a 40% non-con­trol­ling in­ter­est.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.