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TD breaking news – Helloworld to buy into franchisee businesses

“Co-investment” strategy announced by Helloworld.

Helloworld Limited has just announced that it plans to pursue a strategy of “co-investment in its franchise network in Australia and New Zealand”.

Over a two year period starting from January 2017, Helloworld will offer to purchase between 20% and 25% of certain qualifying franchisees’ businesses.

“Each investment will be considered on a case-by-case basis, be based on fair market value, with the consideration for any investment made to be payable by way of fully paid ordinary shares in Helloworld Limited,” according to a statement just released to the ASX.

CEO Andrew Burnes said the intention was that Helloworld would invest in quality retail agency businesses, “while leaving the management and operational control of our retail agencies in the hands of our dedicated and successful franchisees.

“This is an important step in the ongoing evolution of Helloworld and is part of Helloworld’s strategy to align the interests of Helloworld Limited and our retail agency network,” he said.

More details in today’s issue of Travel Daily.


The above Breaking News Alert was sent to Travel Daily subscribers on 21 Oct 16

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