MENU
Login
Search
TTG
Clear
0 Selected+
Filters
Air
Luxury
Regulation
Operators
Agencies
City and finance
Destinations
Skills
Cruise
Technology

Hello! You are viewing your 1 free guest article this week


Please log in or join now for free, immediate and unlimited access to our award-winning online content. Find out more...

Join us
Already a member? Log in here

News

31 Aug 2018

BY James Chapple

Share
TRFBLI

Minoan edges closer to Stewart Travel sale

Minoan’s plans to dispose of its Stewart Travel brand took a major step forward this week.

cash money tower wages
Sharelines

Minoan edges closer to Stewart Travel sale

The group confirmed in a trading update issued on Friday morning (August 31) it expected to “imminently” conclude terms for the sale of the T&L business.


Minoan acquired a 20% stake in Stewart in 2011 before completing a full deal in the spring.


The Glasgow-based business, founded in 1972, operates a number of brands, including Cruise Kings and Golf Kings, and 13 agencies.


Stewart is understood to currently employ in excess of 250 staff.


Minoan though announced plans to dispose of its Scottish travel agency arm late last year.


In Friday’s update, Minoan said it had received approaches from a number of prospective buyers.


Extensive negotiations have since taken place with the group’s primary lender, Zachary Asset Holdings Limited, a subsidiary of financier Hillside International Holdings Limited, with a view to a full sale, subject to shareholder approval.

Add New Comment
Please sign in to comment.
Show me more

Quick Links



Follow Us



Twitter
LinkedIn
Facebook
Instagram
YouTube
TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
Scroll To Top