Corporate Travel Management pays $45 million for stake in Westminster Travel
Corporate Travel Management, an Australia-based travel technology provider, has acquired 75.1% of Westminster Travel, Hong Kong-based corporate travel solutions provider.
This agreement is for $44.8 million and effective from 31 January 2014.
The two current major shareholders of Westminster Travel – Dato WONG Sin Just and YU Kam Kee Lawrence MBE – will retain 24.9% stake in the business following settlement.
Corporate Travel Management (CTM) founder and managing director, Jamie Pherous, says:
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