An undisclosed offer has been made for CNG Travel Group, owner of Tzell Travel agency, one of the largest US corporate travel agencies.
Based in Dublin, CNG 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.
This follows the CNG’s June announcement that it would dispose of its loss-making business to consumer leisure division.
CNG, which raised £22 million with a float on the London Alternative Investment Market in May 2004, said a further announcement will be made in due course.
