Travel and lodging firm Viad to sell events unit for $535 million [Yahoo! Finance Canada]
Viad Corp (VVI)
Last viad corp earnings: 2/6 04:05 pm
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Source: Yahoo! Finance Canada
NEW YORK (Reuters) - Travel and lodging operator Viad Corp on Monday agreed to sell its events and conferences business GES to private equity firm Truelink Capital for $535 million, according to a statement seen by Reuters. The sale of GES would leave Viad with its attractions and hospitality unit Pursuit, allowing the company to focus on a business that operates lodges and tours for travelers in national parks and cities such as Vancouver, Reykjavik, Las Vegas and Chicago. The Scottsdale, Arizona-based company, which is valued at $1.4 billion including debt, will rebrand as Pursuit and operate under the ticker "PRSU" on the New York Stock Exchange after the close of the deal, which is expected by the end of the year. David Barry, the current president of the Pursuit unit, will become the CEO of the rebranded company. "We think the sale (of GES) will unlock our high-growth, high-return Pursuit business, allowing it to command a much higher trading multiple as a pure-play attrac
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News
- Viad Corp (NYSE: VVI) had its price target raised by analysts at Oppenheimer Holdings Inc. from $41.00 to $54.00. They now have an "outperform" rating on the stock.MarketBeat
- Viad Corp (NYSE:VVI) Shares Could Be 26% Below Their Intrinsic Value Estimate [Yahoo! Finance]Yahoo! Finance
- Viad Corp (VVI) Q3 2024 Earnings Call Highlights: Strong Revenue Growth Amid Challenges [Yahoo! Finance]Yahoo! Finance
- Viad Corp Reports 2024 Third Quarter Results [Yahoo! Finance]Yahoo! Finance
- Viad Corp Announces Participation in Upcoming ConferencesBusiness Wire
VVI
Earnings
- 11/7/24 - Beat
VVI
Sec Filings
- 11/7/24 - Form 10-Q
- 11/7/24 - Form 8-K
- 11/6/24 - Form SCHEDULE
- VVI's page on the SEC website