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Bid approach for CNG Travel Group
An undisclosed offer has been made for Dublin-based technology company CNG Travel Group.
The company confirmed it had received an “informal and unsolicited approach” which may or may not lead to an offer for the company.
“The approach is very preliminary in nature and there can be no certainty that an offer will ultimately be forthcoming,” a statement said.
CNG, which raised £22 million with a float on the Alternative Investment Market in May 2004, said a further announcement will be made in due course.
The offer came as CNG revealed a deal to provide its private rate hotel programme to Irish air fare consolidator Club Travel.
CNG will link its inventory of 25,000 hotels and rates to Club Travel’s trade-only EASYFARE web site.
Tim Wright, CNG’s senior vice president for business development in EMEA, said: “CNG’s expanding hotel inventory, easy-to-use online booking technology, and above-average commission, which is collected and paid quickly, are attracting more and more agency users.”
Senior Club Travel director Colman Burke said: “Linking with CNG will improve what we do by adding hotel content to our service offer for hundreds of travel agency customers. In addition, using CNG will greatly reduce internal administration and improve rates for travellers.”
Report by Phil Davies
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