14 October 2008

TTA-Worldchoice merger ratified

The merger between the Travel Trust Association and Worldchoice has been finalised.

The combined group Ã¢â¬' representing the largest number of independent travel agents in the UK Ã¢â¬' will operate at TTA Worldchoice Limited.

Worldchoice shareholders will receive a return of 275p per share this week, with more than Ã&#pound;4 million being paid out in total.

This comes after the boards of TTA and Worldchoice announced that a Scheme of Arrangement to acquire the shares of Worldchoice shareholders has been finalised and a court order forwarded to the registrar of companies at Companies House.

Simon Hargreaves, managing director of the TTA group of companies, said Ã¢â¬ÅâœIt is quite a long time since we started out on this route but it was certainly a journey worth taking.

Ã¢â¬ÅâœIn todayÃ¢â¬â¢s economic climate travel companies need all the strength they can find, and by joining together the members of both TTA and Worldchoice should feel more confident about the future.Ã¢â¬~

TTA Worldchoice chairman Colin Heal said: Ã¢â¬ÅâœI believe that the merger will be hugely beneficial for both TTA and Worldchoice members.

Ã¢â¬ÅâœNot only because they will belong to the largest group of independent travel agents within the British Isles but also because of the synergies which bringing the companies together will deliver for members.Ã¢â¬~

by Phil Davies