2nd Jun 2006 14:00
Holidaybreak PLC02 June 2006 2 June 2006 HOLIDAYBREAK PLC Camping - Holidaybreak ends discussions The Board of Holidaybreak, the European specialist holiday group, confirms thatit has ended discussions regarding the possible sale of the Group's CampingDivision. On 20 March 2006, the Board announced that it had received several expressionsof interest to acquire Camping. These have been fully investigated. However, theBoard has now decided to end these discussions as the proposed indicative offerswere below the value that the Board attributes to Camping as an integral part ofthe Group. In Holidaybreak's interim results announcement on 17 May 2006, it was announcedthat: 'Camping trading is in line with our expectations to deliver cash and goodmargins in the full year.' This remains the case. Given the strength of its balance sheet and its excellent cash generation,Holidaybreak remains well positioned to grow by acquisition. As stated on 17May, management continues to consider a number of potential transactions. Carl Michel, Chief Executive, said: 'The Board has ended the process regarding Camping and believes that keeping itwithin the Group will deliver the greatest value to shareholders going forward.With the growth of the other divisions, Camping now represents less than a thirdof the Group by turnover and is expected to generate cash and deliver goodmargins in the full year. The Group is in good shape and continues to explore both organic and acquisitionopportunities across all divisions.' Enquiries: Brunswick:James Hogan / Ash Spiegelberg +44 (0) 20 7404 5959 Note to Editors Holidaybreak (HBR.L) is listed on the London Stock Exchange. The Europeanspecialist holiday group sold 3m holidays in the year ended 30 September 2005(2004: 2.3m). Holidaybreak has three operating divisions: Hotel Breaks,Adventure Travel and Camping. Each is a market leader in its respectivespecialist sector of the European holiday industry, has multi-channeldistribution and is recognised for providing high standards of product andservice quality. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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