Boooom3 Dec 2013 23:32
Boooooooom!
New offer just been made for travelzest and a fecking good one, this just got interesting ......as below
03 DEC 2013: Informed sources say Bahamas based merchant bank BHP International Markets Ltd. together with Shane Carroll have made a bid for itravel2000.
The offer has apparently been submitted to the Canadian Supreme Court of Justice and to Grant Thornton LLP within the prescribed deadline for completion of the sale of Travelzest's assets.
The new offer is said to be in the range of $15 million, substantially more than the reported $8.7 million offered by Aldenham/Elleway etc. and the receiver Grant Thornton as Travelzest administrator is apparently required by law to give it consideration.
We understand Andy Dayes, who has been identified variously as partner and managing director for BHP International Markets Ltd. and Shane Carroll, met with Chiko Nanji in Toronto last October with the intention of purchasing iTravel2000 at that time. They were unsuccessful, but expressed interest in any future opportunity to purchase the company.
Elleway pulled the financing on November 4 and simultaneously Aldenham Canada was
announced as the buyer. The deal had 30 days to close.
Tomorrow is December 4. So here are BHP and Shane Carroll - back again at the eleventh hour.
White Knights or spoilers?