Stella UK boss will not rule out float
Reports form the UK say that a future float of Stella Travel Services, which owns the brands Harvey World Travel, Travel 2/Travel 4 and Travelbag in the UK, has “not been ruled out†according to Stella Travel Services UK managing director Andrew Laurie.
With CVC Asia Pacific a majority shareholding in the company, Laurie, speaking at the Institute of Travel and Tourism’s Odyssey Supper at the House of Commons, said: “I would not rule it out.â€
He added though there while were no current plans to float the company, it was likely to be an option considered by CVC, with traditionally private equity companies looking at exit options after three to five years although CVC historically has invested in companies for around six years.
He added, “We are a large global company, majority owned by a private equity firm and at some point they will look at exit options and where they get best value, whether it’s a flotation or sale.â€
He also said that market conditions would also play an important factor in the decision.
By:The Mole
John Alwyn-Jones
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