Viad (VVI) said Monday it has agreed to sell its GES business to Truelink Capital for $535 million.
The transaction separates GES, an exhibition services and experiential marketing business, from Viad's Pursuit attractions and hospitality business.
Upon completion of the sale of GES, the company said it plans to rebrand as Pursuit and change its NYSE ticker symbol to PRSU.
Proceeds from the sale, expected to close by the end of 2024, will be used to retire Viad's 2021 Credit Facility, a $170 million revolving credit facility, and accelerate Pursuit's growth strategy.
Price: 40.01, Change: +4.23, Percent Change: +11.82
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.