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Article: Aviation Group, Inc. Announces Completion of Acquisition Of Global Leisure Travel, Inc.
- Article from:
- PR Newswire
- Article date:
- May 18, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS, May 18 /PRNewswire/ --
Aviation Group, Inc. (Nasdaq: AVGP) announced the completion of its acquisition of Seattle-based Global Leisure Travel, Inc. The acquisition is the first step in a previously announced three-way business combination among Aviation Group, Global Leisure and travelbyus.com ltd. (Toronto: TBU; Frankfurt: TVB).
The acquisition was completed through a merger of Global Leisure with Aviation Group's subsidiary effective on May 10, 2000 making Global Leisure a wholly owned subsidiary of Aviation Group. As consideration for the purchase, Aviation Group issued:
-- $16,500,000 in liquidation preference, represented by 1,650 ...
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