lastminute.com plc announced the purchase of a UK hotel consolidator and package holiday reseller…
lastminute.com plc announced the purchase of a UK hotel consolidator and package holiday reseller , Med Hotels (comprising of Med Hotels Limited and Travel Bargains Limited), for £16.1 million which will be satisfied by £8.0 million in cash and the issue of 2,941,176 new shares in lastminute.com plc.
In addition to the initial consideration, lastminute.com will pay further consideration depending on the EBITDA performance for the years to 31 October 2003, 2004 and 2005. The additional consideration has been capped to a maximum of £6.5 million and may be satisfied in either new shares or in cash at the option of lastminute.com plc.
Highlights of the transaction:
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