Helloworld Travel to acquire 100% of Express Travel Group

Helloworld Travel Limited agreed (22-Jun-2023) to acquire 100% of Express Travel Group (ETG) in Australia and New Zealand from current owners Tom Manwaring and Sintack Pty Ltd for AUD70 million (USD47.34 million). The acquisition will require shareholder approval and notice of an extraordinary general meeting, to be held on 21-Jul-2023. Helloworld will be acquiring 100% of the business from the vendors and Tom Manwaring will remain as CEO and a director of ETG. The acquisition will be earnings accretive in FY2024 and beyond. The transaction is expected to settle in early Aug-2023. [more - original PR]