Expedia buys Australia’s Wotif.com

Tuesday, 07 Jul, 2014 0

Online travel firm Expedia has agreed to buy Australia’s Wotif.com for A$703 million as it seeks to expand its presence in the Asia-Pacific region.

Wotif investors will get A$3.06 a share from Expedia and also receive a special dividend of 24 cents, the Brisbane-based company said in a regulatory filing, reports Bloomberg.

"Wotif Group will add to our collection of travel’s most trusted brands and enhance our Asia-Pacific supply," Dara Khosrowshahi, chief executive officer of Bellevue, Washington-based Expedia said in a statement.

"Wotif Group is well positioned in the Asia-Pacific region with a portfolio of leading travel brands."

The transaction is subject to shareholder and regulatory approval and is expected to close in October, it said.



 

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