Media Releases > 2 July 2007
Southern Travel Holdings Agrees to Purchase The Walshe Group
2 July 2007
Southern Travel Holdings is very pleased to announce the purchase of The Walshe Group of travel companies effective 2 July 2007. The purchase meets the Board’s stated objective of broadening the business base of the Company.
Managing Director, Mr Kiyomi Gunji stated, “The Walshe Group are complementary to our core inbound business in that The Walshe Group is a series of representational companies holding representation agreements for airlines, tourist offices and tour operators.”
The Walshe Group has offices in Australia, New Zealand and Hong Kong and whilst over time there will be synergies from co-location and financial systems the intention is that The Walshe Group continue to operate as a stand-alone entity.
As part of the transaction Mr Rodney Walshe, well known for his long involvement in the tourism sector, will join the board of Southern Travel Holdings. Following shareholder approval of the acquisition, and in order to position Southern Travel Holdings Limited for growth, there will be further announcements on structure.
Ends.
