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Allbury Travel Group statement
XL Group's 20% shareholding in ATG now acquired by Allbury Travel Group
Wednesday, February 18, 2009
Allbury Travel Group, (ATG), whose brands include, Libra Holidays, Argo Holidays and Jetlife, announced that the XL Group's 20% shareholding in the company has now been acquired by Allbury Travel Group’s shareholders under an agreement with XL’s Administrator, Zolfo Cooper.
ATG Chairman, Michael East, said “The agreement, which has been approved by the regulatory authorities, settles all remaining outstanding financial matters between the two companies.” He said that the Group’s winter trading was performing in line with the company’s forecasts, with volumes slightly down but selling prices up, year-on-year. The summer period appears to be booking later, in line with the rest of the industry, but demand has been strengthening in recent weeks, as have our prices.
ATG Chairman, Michael East, said “The agreement, which has been approved by the regulatory authorities, settles all remaining outstanding financial matters between the two companies.” He said that the Group’s winter trading was performing in line with the company’s forecasts, with volumes slightly down but selling prices up, year-on-year. The summer period appears to be booking later, in line with the rest of the industry, but demand has been strengthening in recent weeks, as have our prices.
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