TraWell Co, a global leader in protection services, baggage storage, products and ancillary services for travellers, signed, on 9 August 2024, the Letter of Intent concerning a strategic acquisition of a 51% share package of a competitor active in the Northern European market in the same sector as the company.
The target company recorded a turnover of over €3,000,000 in the 2023 financial year with a portfolio of activities in baggage protection and storage services, and management of lost & found services in airports and railway stations.
The acquisition transaction, a note explains, is subject to the successful completion of due diligence, which begins today and ends by September 30, 2024.
If the due diligence is successful, the letter of intent states that the transaction must be completed by October 31, 2024.
