Trading in shares of S8, the Surfers Paradise-based tourism company ended at the close of trade yesterday on the Australian Stock Exchange, with the company having been taken over by funds manager MFS, ending five years as a listed entity.
MFS last week moved to finally and compulsorily acquire the S8 shares it did not already own, which at the time amounted to just 3.3% of the company’s shares and 1.6% of its convertible notes, the funds manager having clinched the $700 million takeover last month.
S8, which owns Harvey World Travel and Travelscene American Express amongst an impressive range of travel and tourism businesses, has extensive management rights interests, will be merged with MFS’s tourism operations.
Report by The Mole
