Webjet Limited (ASX:WEB) says it has completed its $US25 million acquisition of Zuji from Travelocity.com, following its initial announcement back in December.
The online travel retailer acknowledged the input of its advisers in forming the acquisition, including Minter Ellison, Deloitte and Credit Suisse.
Zuji is a leading multi-market Asian online travel agency which has never made a profit, losing $3.6 million last year.
Webjet announced a share purchase plan to fund the acquisition on December 22 last year, saying it believed it can turn Zuji into a moneymaker.
Webjet turned in a net profit of $5.6 million in the first half of fiscal 2014.
WEB Price at posting:
$4.93 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)