Webjet is a digital travel business spanning both global consumer markets (‘B2C’) and wholesale markets (‘B2B’). How quickly or slowly will it be until business picks up again? This came from travel industry customers who had bought hotel beds from Webjet to onsell to consumers or businesspeople, but had then gone out of business and failed to repay the company.Mr Guscic argued the risk of a subsequent hits had been reduced, with Webjet’s owed monies vastly shrunk in the current downturn and amid tighter conditions.Of outstanding monies of $44 million, Webjet had reciprocal agreements or cash guarantees worth $30 million, he said. So Sharp dropped everything and got to the airport, bound for Melbourne.How different it was to his last trip, only four weeks earlier, for the travel group’s half- year results. The $250 million raising flopped, attracting only about $100 million of support.

They had been kept up to date on the rollercoaster ride of getting three deals – two private equity proposals and an underwritten equity package. Webjet would emerge from the downturn well capitalised and strong, and increase margins and market share once it was all over.

*This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account.

The Webjet share price will be on watch today on rumours that it’s a takeover target.. Webjet is a digital travel business spanning both global consumer markets (‘B2C’) and wholesale markets (‘B2B’). The AFR also reported that the online travel agency has appointed Herbert Smith Freehills and MinterEllison as legal advisers.

The Company’s objective is to create value for its shareholders and from time to time we consider acquisition interest in the business. Webjet raised $346 million at $1.70, a 60% discount to the most recent close price, one tenth of the value at the start of the year – buying them 12 months lifeline. Though, there is also believed to be interest from Europe, with Spain’s Hotelbeds rumoured to be looking over Webjet’s fast-growing WebBeds business.When investing expert Scott Phillips has a stock tip, it can pay to listen. You've reached the official Webjet.com.au Facebook timeline. Should a proposal be received that was compelling and certain, the company would put it to shareholders. The two travel companies had suggested that they would return from their suspensions today, but that was dependent on them finalising some much-needed liquidity to get them through the Flight Centre halted its shares on March 19 whilst it assessed the impact of the coronavirus on its business.Whilst the company has not yet commented on the other actions that it intends to take, there is speculation that it will need to raise upwards of $400 million. It means paper gains for anyone buying stock in the raising, but losses for everyone else.While it’s a happy ending, of sorts, there are no celebrations yet. The firm took the lead role, having already been working with Webjet in happier times only weeks earlier as it assessed some unrelated interest from trade and private equity names.
Our daily reporting, in your inbox.Follow the topics, people and companies that matter to you.There are easier ways to make a living then pitching AMP Ltd to potential buyers. Why Flight Centre and Webjet shares remain suspendedShow full articles without "Continue Reading" button for {0} hours. Webjet is doing a capital raising, is it dirt cheap?. After two days of pitching a survive-to-thrive strategy, Webjet and its brokers will be looking for firm bids into a proposed $250 million equity raising. Webjet's liquidity crisis solved, but its business is not out of the woods and investors know it could be a long road to full recovery. 330K likes. There was plenty of talk about shareholder dilution and capital structures under the various scenarios, using models put together by Goldman Sachs.The brokers, having been given one last chance when they were told private equity was very much alive and keen, were able to knock together an underwritten deal that would guarantee Webjet at least $275 million at $1.70.Investor sentiment had warmed, no doubt helped by a baby bull market rally as governments in Australia and offshore unveiled massive stimulus packages aimed at nursing the economy through the pandemic.The deal was at $1.70 a share – a hair raising 60 odd per cent discount to it most recent close. But it became pretty clear everyone would need to roll up their sleeves. Equity capital markets head Sarah Rennie was also heavily involved.Tim McKessar, an understated and thoughtful media and tech sector banker, led Credit Suisse's charge along with ECM boss Adam Lennen. The AFR reported that institutional investors were willing to participate to help save the company, but investment … After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. Economic growth fell 7 per cent in the June quarter - the biggest fall since records were kept - bringing the annual rate to 6.3 per cent.AMP's new chair has taken the brave and hard decision to run a review of its entire portfolio.

What is Webjet? Both understood their roles. It was established in 1998 and now claims to be the leading online … It will scare many organizations who will fall by the wayside.


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