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Flight Centre Travel Group Limited (ASX:FLT)

ALERT: Price-sensitive ASX Announcement for FLT
Current share price for FLT : $12.695 1.605 (14.47%)+
Announcement
Release
8 Apr 2026 8:22AM
Price at Release
$11.090
Full Release
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Summary
Flight Centre Travel Group Limited (FLT) announced its decision to divest a 47% stake in Pedal Group to the Turner Collective, a consortium linked to its managing director, Graham Turner, for $61.7 million. This move is part of FLT's strategic realignment towards its core travel business, simplifying its portfolio. The Pedal Group, which includes 99 Bikes and Advance Traders Australia, is well-positioned for continued growth under the Turner Collective. The sale is subject to shareholder approval at an Extraordinary General Meeting (EGM) on May 14, 2026, and an independent expert's report has concluded that the terms are fair and reasonable. If completed, the sale is expected to result in a $15 million accounting gain with no cash tax impact. This transaction follows FLT's previous divestments, reinforcing its focus on core travel platforms.
Key Points
  • FLT to sell 47% stake in Pedal Group for $61.7m
  • Transaction aligns with strategic focus on core travel businesses
  • Pedal Group includes 99 Bikes and Advance Traders Australia
  • Sale to Turner Collective, associated with Graham Turner
  • Shareholder approval required at EGM on May 14, 2026
  • Transaction expected to generate $15m accounting gain
  • Transaction supported by independent directors and expert report
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.