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Helloworld gets Magellan deal across the line

March 6, 2018 Headline News No Comments Email Email

Helloworld Travel has successfully completed the acquisition of the Magellan Travel Group, a move that it initially announced on 19 December 2017.

The acquisition spurred much internal debate within Magellan following the announcement in December.

Helloworld originally envisaged the acquisition going through “in early January 2018” but as deliberations continued within Magellan, Helloworld rescheduled the planned acquisition, saying it expected the deal would complete “by the end of February”.

That has happened and it appears that all except one Magellan member has agreed to stay as part of the AUD 32.5 million Helloworld acquisition. The deal is believed to have been sweetened for the members three times.

Late last week, Helloworld chief executive Andrew Burnes confirmed to the Australian Stock Exchange: “We are delighted to welcome the 97 members and 129 agencies of the Magellan network to Helloworld Travel Limited. We look forward to working with the Magellan members throughout Australia to deliver great outcomes for all stakeholders.”

Helloworld Travel will now have over 2300 members in Australia and New Zealand, comprising over 1800 retail and corporate agencies and over 470 travel brokers.

Written by Peter Needham

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