Helloworld, AOT merger back on the table

Helloworld, AOT merger back on the table

Helloworld and the AOT Group are once again engaged in discussions regarding a potential transaction.

In a statement today released to the Australian Stock Exchange, Helloworld referred to reports in the Australian Financial Review that it was planning to acquire AOT Group, and confirmed that talks are once again underway. The talks stalled back in September when Helloworld announced it has been “unable to reach agreement with the AOT shareholders on acceptable terms”, and terminated discussions, prompting AOT to contemplate an IPO.

However, the two companies are once again working on a transaction, with shareholders said to be in favour of such a deal which would create a business with more than $20 million annual profit and $400 million revenue.

“HLO confirms that it has recommenced discussions with AOT regarding a potential merger transaction,” it said.

“The evaluation of any merger is still in progress and there is no certainty that these discussions will lead to any transaction.”

The company confirmed it would update the market in line with its disclosure obligations, and stressed that it is “committed to the long-term growth” of the business.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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