Online travel group Secret Escapes seeks getaway with new owner
Online travel group Secret Escapes seeks getaway with new owner
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Secret Escapes, the online travel platform, has hired bankers to explore a sale nearly 15 years after its launch. Sky News has learnt that Secret Escapes has appointed the investment bank Arma Partners to oversee an auction of the company. Sources close to a number of potential bidders said on Monday that the process was expected to lead to new ownership in the coming months.
Money latest: Soldier reveals financial benefits of the army. Member-only Secret Escapes has been backed by a string of prominent investors, including the Singaporean sovereign wealth fund Temasek and London-listed technology investor Chrysalis. In total, it has raised hundreds of millions of pounds in debt and equity since it was founded in 2011.
It secured roughly £40m during the COVID-19 crisis to shore up its balance sheet, having previously secured more than £100m in backing since its launch. Money blog: Bosses are giving staff days off, treats and £1,000 interest free loans to help them through Blue Monday.
Reeves to meet US financiers as Trump presidency kicks off. TikTok starts restoring service after Donald Trump confirms he will sign order pausing US ban. In its last financial year, it completed a £32m equity raise with the backing of existing shareholders and lenders, and debt refinancing extending term debt to July 2028.
