HT&E Limited, the owner of radio network ARN, has done a deal to sell for around $23.2 million its holding in Lux Group, which trades as Luxury Escapes.
ASX-listed global investment manager Auctus Asset Management has agreed with various shareholders in Luxury Escapes to
but their shares.
Auctus will also invest primary capital in Luxury Escapes via a convertible note to support future growth.
The agreement is conditional on Auctus raising minimum funding of $60 million.
HT&E could receive up to $23.2 million.
Luxury Escapes is privately owned, globally focused online travel company founded in 20099 and based in Melbourne with more than 250 employees and offices in London, New York, Sydney and Bangalore.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.