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 to Relaunch as Pursuit and Trade on NYSE as PRSU [Yahoo! Finance]Yahoo! Finance
- Viad Corp to Relaunch as Pursuit and Trade on NYSE as PRSUBusiness Wire
- Viad Corp Announces CFO Transition [Yahoo! Finance]Yahoo! Finance
- Viad Corp Announces CFO TransitionBusiness Wire
- Viad Corp Announces Mandatory Conversion Date for 5.5% Convertible Series A Preferred StockBusiness Wire
VVI
Earnings
- 11/7/24 - Beat
VVI
Sec Filings
- 12/18/24 - Form 8-K
- 12/9/24 - Form 8-K
- 11/7/24 - Form 10-Q
- VVI's page on the SEC website