MFS finds partner for Stella
In a statement to the ASX, MFS says that it has finalised plans to find a new partner for Stella, who will provide an injection of funds that is reported to be as much as AUD1 billion, with MFS saying that they and their partner have agreed not to move forward until after the first quarter of the 2008 financial.
In addition the statement says that they have signed a confidentiality agreement not to reveal the partner until then.
The statement said, “MFS has now selected a preferred partner, with the intention of completing a transaction for the benefit of MFS shareholders as soon as is appropriate and, “The injection of cash flow is to support the growth, through a capital restructure, of its recently acquired Stella Travel and Accommodation.”
MFA also says that prior to the completion of the sale, MFS will have completed amalgamation all of Stella’s assets into one stand, with its own debt financing vehicle.
The acquisition of the Protea Hotel Group in Africa and other new acquisitions will be funded from the new acquisition.
Report by The Mole
John Alwyn-Jones
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports