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Pacnet sells Safe2Travel to China Strategic Holdings

Nov 06, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: China Strategic Holdings Ltd. (CSHYY)

Pacnet Limited, a China-based provider of telecommunications services, has sold Safe2Travel Pte., Ltd. to China Strategic Holdings Limited, the owner and operator of SingExpress Travel Pte., Ltd., for a cash consideration.

Safe2Travel is a Singapore-based travel and event management company. 

Deal Type    Acquisition
Sub-Category Majority Acquisition
Deal Status  Completed: 2009-11-06

Deal Participants 

Target (Company)   Safe2Travel Pte., Ltd.
Acquirer (Company) China Strategic Holdings Limited
Vendor (Company)   Pacnet Limited

Deal Rationale

The sale of Safe2Travel is part of Pacnet's strategy to divest non-core assets, that enhance its focus towards core telecommunications services business and deliver connectivity solutions across the region.

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Company: China Strategic Holdings Ltd. (CSHYY)


Related terms: acquisition, business, china, singapore, telecommunications, travel

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