TTA/Worldchoice merger closer to completion

Thursday, 02 Oct, 2008 0

The merger between TTA and Worldchoice is on schedule for completion by mid-October after The High Court of Justice this week sanctioned the Scheme of Arrangement.

The merged company, with almost 900 outlets, will be the largest group of independent travel agents and second only in size to TUI of all travel agency outlets.

A Sealed Order is now scheduled to be sent out by the end of this week to the Registrar of Companies at Companies House.

Once the merger is complete, Worldchoice shareholders will receive their payout of 275p per share.

Worldchoice chairman Colin Heal and chairman designate of TTA Worldchoice said he was confident that the merger would result in significant benefits both for Worldchoice and TTA members.

“In the difficult economic conditions faced by all sectors of commerce, the merger of the two organisations with their respective strengths, would be taking place at an opportune time.”

He said it would be â€˜business as usualâ€™ for both Worldchoice staff and members because the newly-merged company will operate as a separate division of the TTA Group, and Worldchoice will operate its own profit and loss account.

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Bev

Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.

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