Helloworld reveals its AOT Group decision

Helloworld reveals its AOT Group decision

Back on September 2, Helloworld revealed it was  in talks with AOT Group about a potential acquisition of AOT by the travel agency.

Helloworld has now officially announced it has been “unable to reach agreement with the AOT shareholders on acceptable terms”, and as a result, discussions have been terminated immediately.

The terms of the transaction, Helloworld revealed in a statement on ASX, would have resulted in the vendors of AOT becoming significant minority shareholders in Helloworld.

But the board of Helloworld has “unanimously concluded” that the strategic and financial merits of the acquisition weren’t satisfactory and would have no benefits for the agency, with the statement labelling them “insufficiently compelling”.

Helloworld reiterated that is remains focused on its existing strategy, and is continuing to make strides in future-proofing its business and returns.

The search process for a new CEO to replace Elizabeth Gaines, who announced her resignation back in June, is “ongoing”, with updates expect “in due course”.

Latest News

  • Aviation
  • News

Profile: Delta CEO Ed Bastian

Bastian says the airline business isn't for the faint hearted. We're sure Alan Joyce would agree!