Lowcost Travel Group withdraws from plans to buy Ideal Cruising

Lowcost Travel Group withdraws from plans to buy Ideal Cruising

The Lowcost Travel Group  has withdrawn from plans to buy cruise specialist Ideal Cruising.

Chief executive Paul Evans said: "Ideal is a great business with an excellent management team. However this is a time for more conservative valuations of even good businesses like Ideal  and we have therefore withdrawn from the negotiations. It is still a sector of great interest to us".

Ideal chairman Ian Brooks said: "We are disappointed not to have concluded this deal especially as we had built up a good rapport with the team at Low Cost.

"However we understand their reasons for not going through with it, and ultimately we have a good business which we were not willing to sell below a premium price. We have had a good start to the year and look forward to continuing to grow the business in what remains a healthy sector".




Comments

This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.

More in News