Flight Centre’s US$28 million offer for student travel group Studentuniverse.com has been accepted.
In a statement to the Australian Stock Exchange, Flight Centre managing director Graham Turner confirmed the offer had become “unconditional” following approval from the shareholders holding 98.66% of issued shares in SU’s unlisted Irish incorporated parent company.
“We look forward to working with the StudentUniverse team to grow the business,” he said.
“StudentUniverse will give us a stronger presence in the student and youth demographic, both in the United States and globally, and will bring new expertise to FLT in a number of key areas, including online technology and digital marketing.”
The company will use statutory “squeeze out” procedures under Irish Law to acquire the remaining shares to take its holding to 100%.
