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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Hogg Robinson Group plc    HRG   GB00B1CM8S45

HOGG ROBINSON GROUP PLC (HRG)
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Hogg Robinson : to Sell Fraedom to Visa for GBP142 Million; Agrees Takeover

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02/09/2018 | 08:53am CEST
   By Ian Walker 
 

Hogg Robinson Group PLC (HRG.LN) said on Friday that it has agreed to sell its software-as-a-service business Fraedom to Visa Inc. (V) for 141.75 million pounds ($198.1 million), as well as a takeover from Global Business Travel Holdings Ltd.

The corporate travel firm said if the sale of Fraedom gets completed by the time of the Global Business Travel takeover, shareholders will get 120 pence for each share held. If not, they will get 110 pence a share.

The offer prices value the entire company at between GBP376.3 million and GBP410.6 million.

The Fraedom disposal is expected to complete by March 12, Hogg Robinson said, adding that it must complete by April 30 or the deal will terminate.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

Stocks mentioned in the article
ChangeLast1st jan.
HOGG ROBINSON GROUP PLC 0.00%-End-of-day quote.46.06%
VISA 0.32% 140.67 Delayed Quote.22.55%
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2017Hogg Robinson Group PLC 2018 Q2 - Results - Earnings Call Slides 
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Consensus
 
Mean consensus
Number of Analysts 1
Average target price -
Spread / Average Target -100%
Managers
NameTitle
David J. C. Radcliffe Chief Executive Officer & Executive Director
Nigel Hargreaves Northridge Chairman
William F. Brindle Chief Operating Officer & Executive Director
Michele Nicola Maher Chief Financial Officer & Executive Director
Paul M. Williams Independent Non-Executive Director
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