HLO buys detailed
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.