
Hello World: Pherous snaps up another travel business
Corporate Travel Management has struck a $175 million deal to buy Hello World’s corporate and entertainment travel business.
Corporate Travel Management has struck a $175 million deal to buy Hello World’s corporate and entertainment travel business.
Corporate Travel Management’s Jamie Pherous has cashed in 1.7 million shares in the company for a $39 million payday.
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Corporate Travel founder and managing director Jamie Pherous has sold down his stake in the company for $31 million.
Corporate Travel Management has recorded a $36 million loss for the half-year and predicted travel restrictions in the UK and US could soon ease, well ahead of Australia, despite its better health record.
In the middle of a pandemic that has crippled world travel, Jamie Pheros’s Corporate Travel Management will go to shareholders to raise $375 million to buy out a US company.