Flight Centre Travel Group (ASX:FLT) has entered into a binding agreement to acquire 100% of the UK-based leisure travel business, Luxury Travel Holdings Limited (Scott Dunn) for $211M.
It says Scott Dunn provides an entry point into the UK and US market via a well-regarded, scalable brand which will be supported by Flight Centre's global platform.
Flight Centre says the purchase will be funded by a $180M equity raise, and $40M of existing cash.
It also says eligible existing shareholders can participate in a non-underwritten share purchase plan to raise up to a further $40M.