AA, founders sells 55 percent of Bookabach site to Texas-based HomeAway

Wed, 06 Nov 2013

Nov. 7 (BusinessDesk) – The New Zealand Automobile Association has sold its stake in online holiday home booking site Bookabach to HomeAway, a global vacation rental home company based Austin, Texas. The deal includes Bookastay, an Australian affiliate, HomeAway said in a statement. Terms of the all-cash deal weren’t disclosed though the US company said it would discuss the transaction on a conference call for its third-quarter earnings later today. Bookabach was a 50-50 joint venture between the AA and the website’s founders. AA sold its en...

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