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Corporate Travel Management Ltd (ASX: CTD) acquires 100% of Helloworld Travel’s Corporate & Entertainment business.

Corporate Travel Management Ltd (ASX: CTD) has entered into a binding agreement to acquire 100% of Helloworld Travel Limited’s corporate and entertainment travel business in Australia and New Zealand for an enterprise value of $175m on a cash-free, debt-free basis.

Following the announcement, Corporate Travel Management shares were in a trading halt.

Following the announcement, shares of Helloworld Travel rose 9.61% to $2.51/share.

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