CTD corporate travel management limited

News: CTD Corporate Travel Management Announces Acquisition Of Travel & Transport

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    Sept 29 (Reuters) - Corporate Travel Management Ltd (CTD) :

    • ANNOUNCES ACQUISITION OF TRAVEL & TRANSPORT AND FULLY UNDERWRITTEN ENTITLEMENT OFFER
    • ENTERPRISE VALUE OF US$200.4M ON A CASH-FREE, DEBT-FREE BASIS
    • ACQUISITION EXPECTED TO BE ABOUT 10% EPS ACCRETIVE ON A PRO-FORMA CY19 BASIS
    • ACQUISITION FUNDED VIA A FULLY UNDERWRITTEN ENTITLEMENT OFFER TO RAISE A$375M
    • NET CASH POSITION POST EQUITY RAISING OF A$126.8M
    • ISSUE PRICE OF $13.85 PER NEW SHARE FOR ENTITLEMENT OFFER
 
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