BUZZ-Viad jumps on plan to sell GES business to Truelink Capital for $535 mln

Reuters
2024-10-21

** Shares of hospitality services provider Viad Corp up 9.3% at $39.09 before the bell

** Company says it has entered into an agreement to sell its GES business to Truelink Capital for $535 million

** Viad operates through two businesses - Pursuit and GES

** While GES offers global exhibition and marketing services to organizers and brands, Pursuit owns and operates leisure and recreational destinations in U.S., Canada, and Iceland

** Sales of GES to Truelink is expected to close by the end of 2024

** Upon completion of the deal, Viad says it intends to change its corporate name and relaunch as Pursuit and change its NYSE common stock ticker symbol to "PRSU"

** Up to Friday's close, stock had fallen 1.2% this year

(Reporting by Ananya Mariam Rajesh in Bengaluru)

((AnanyaMariam.Rajesh@thomsonreuters.com ; X: ))

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