TBO TEK Ltd Subsidiary to Acquire Classic Vacations LLC for USD 125 Million

TBO TEK Ltd announced that its wholly owned step-down subsidiary, TBO LLC, has approved the acquisition of 100% ownership interest of Classic Vacations LLC for a consideration of up to USD 125,000,000. The acquisition is part of TBO's expansion plans for inorganic growth and is expected to be completed by the first week of October 2025. TBO TEK Ltd will extend an inter-corporate loan of up to INR 350,00,00,000 to its wholly owned material subsidiary, Tek Travels DMCC, to aid TBO LLC in funding the acquisition. Additionally, TBO TEK Ltd will issue a letter of comfort and corporate guarantee in favour of Catalyst Trusteeship Limited for credit facilities of up to USD 70,000,000 to TBO LLC.