Navigant takeover to impact on local travel agent

Navigant International, a giant US-based multinational which bought Auckland-based corporate travel business Synergi Travel this year, has itself been taken over. Synergi deals in sports tours and is one of New Zealand's largest corporate travel businesses.

Synergi moved into Australia when it bought the corporate travel division of a company called Jetset from Air New Zealand in 2001.

Synergi has three offices in Auckland, one each in Wellington, Christchurch and Palmerston North and six in Australia, but since January it has been rebranded as TQ3 Navigant.

Now Navigant - and its local arm - will be absorbed by Carlson Wagonlit Travel, which is paying US$510 million ($815 million), equivalent to US$16.50 a share for Navigant's outstanding shares. Carlson Wagonlit will also assume US$218.7 million in debt.

- NZPA