Seera Group Holding — M&A Activity 2014

May 28, 2014

ATG signs a 100% Acquisition Agreement with CTM Company

1810 · 28/05/2014 09:21:28 · Announcement #34738 · View on Saudi Exchange

ATG signs a 100% Acquisition Agreement with CTM Company

Al Tayyar Travel Group Holding has announced that it has signed Acquisition agreement with CTM Company that allows ATG Holding to acquire the shares of the British Company by 100% .

The agreement was signed on 27/5/2014 by the fully owned by ATG Mawasim for Travel and Tourism company and the owners of the British Company CTM in as well as the Deloitte Financial Advisor

The value of the deal amounted to 13.5 million pound sterling equivalent to (SR 85 million)

The deal was funded from the revenues of the company while all the necessary legal procedures to finalize the deal will be taken accordingly .

Meanwhile CTM Company is considered one of the top ranking travel and tourism companies in UK, operating in the field of travel and tourism services as well as railway tickets beside air transport and ground services . It also operates in the field of organizing conferences as well as hotel accommodation services in Britain, Ireland and Scotland .

The sales of CTM company in 2013 amounted to 130 million pound sterling equivalent to SR 825 million.

The number of the staff of the company reaches 207 spreading in 15 branches in Britain, Ireland and Scotland.

By this Acquisition, ATG aims at expanding the scope of its business in EU countries to provide distinguished services to the clients traveling to the region .

The financial revenues from this deal is expected in the third quarter of the year 2014.

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