Cruise operator Iglu to set sail in £100m deal

The online cruise question cause Iglu is connected the verge of mounting sail Down Under successful a woody estimated to beryllium worthy astir £100m.

Sky News understands that Iglu shareholder LDC - the backstage equity limb of Lloyds Banking Group - is adjacent to a woody to selling the business, which it backed a decennary ago.

Industry sources said connected Tuesday that Flight Centre Travel Group (FCTG), the Australian Securities Exchange-listed company, was the frontrunner to bargain the business.

Money latest: Nationwide 'lost my £70k'

One said that a woody could beryllium announced imminently.

Iglu, which was founded by Richard Downs, has - similar galore question businesses - staged a beardown betterment since the COVID-19 pandemic threatened to decimate the sector.

Last year, FCTG announced that it was reviving its Cruiseabout marque successful an effort to fortify its beingness successful the cruise vacation market.

A intimately watched manufacture study predicted past twelvemonth that planetary cruise passengers would soar from 31 cardinal successful 2023 to 39 cardinal by 2027.

The Australian institution already owns Scott Dunn, which it bought astir 3 years agone for conscionable implicit £120m.

Rothschild, the concern bank, has been handling the merchantability connected behalf of Iglu's shareholders.

LDC did not respond to a petition for comment.