Shareholders approve travel agency merger

The West Australian September 6, 2010, 12:37 pm

Travel agency Jetset Travelworld's shareholders have voted overwhelmingly in favour of a merger with Stella Travel Services Pty Ltd.

On Monday, Jetset held a general meeting, with over 99 per cent of its shareholders voting in favour of the proposed merger.

The Australian Competition and Consumer Commission had approved the merger on September 1.

"We are delighted that we have received shareholder approval for the merger and are now looking forward to getting on with the job," Jetset Travelworld's chairman Tom Dery said in a statement.

Jetset Travelworld chief executive elect, Peter Lacaze, said the merger offered more opportunities for the new entity in the months ahead.

"I am excited to be taking the reins on 1 October 2010, which is when the real work will begin to drive the merged group forward as one of the leading travel services companies in Australia and New Zealand," Mr Lacaze said.

The brands of Stella Travel Services include Harvey World Travel and Travelscene American Express, while Jetset Travelworld also operates Qantas Holidays and Qantas Business Travel.

Shares in Jetset were steady at 82 cents by 12.22pm, after a trading halt was lifted following the general meeting.


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