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Corporate Travel Management Limited (ASX:CTD) will buy two companies, expanding its reach into Europe and the US.
CTM will pay $43.7 million in a mix of cash and shares for Chambers Travel which does business in eight countries across Europe including France, Germany and Sweden. $8.9 million will be paid for Diplomat Travel, headquartered in Washington DC.
This purchase allows CTM to cover all times zones in the US and operate across eight states there.
CTM will now operate out in 46 cities, across 23 countries and employ 1,800 staff worldwide.
CTM intends to conduct a 2 for 35 renounceable entitlement offer to raise the $45.5 million needed for the acquisitions.
Corporate Travel Management produced a net profit of $16.6 million for the 2014 financial year.
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Last
$16.07 |
Change
-0.010(0.06%) |
Mkt cap ! $2.351B | |||
| Open | High | Low | Value | Volume |
| $15.97 | $16.14 | $15.90 | $1.480M | 93.27K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 697 | $15.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.05 | 550 | 1 |
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| Last trade - 12.16pm 22/08/2025 (20 minute delay) ? |
| CTD (ASX) Chart |