Helloworld Travel (ASX:HLO) secured 100% ownership of Mobile Travel Agents (MTA) by exercising a call option to acquire the remaining 50% stake for around AU$36 million, boosting its total investment to AU$50 million, according to a Tuesday Australian bourse filing.
The company initially acquired a 50% stake in MTA for AU$14.2 million back in 2017, the filing said.
The total purchase price represents a five times earnings multiple and is expected to increase the company's annualized total transaction value by AU$440 million, the filing added.
Helloworld Travel's shares jumped 3% in recent Tuesday trade.
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