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TBO Tek Ltd. ( (IN:TBOTEK) ) has shared an announcement.
TBO Tek Limited announced that its subsidiary, TBO LLC, will acquire 100% of Classic Vacations LLC for up to USD 125 million. To facilitate this acquisition, TBO Tek will extend a significant inter-corporate loan to its subsidiary, Tek Travels DMCC, and provide a corporate guarantee for credit facilities from Standard Chartered Bank. This strategic move is expected to strengthen TBO Tek’s market position and expand its operational capabilities in the travel sector.
More about TBO Tek Ltd.
TBO Tek Limited operates in the travel and tourism industry, providing booking services through its platform. The company focuses on enhancing travel experiences and expanding its market reach through strategic acquisitions and partnerships.
Average Trading Volume: 7,574
Technical Sentiment Signal: Sell
Current Market Cap: 142B INR
Learn more about TBOTEK stock on TipRanks’ Stock Analysis page.