Following the accelerated sell down of Professional Performance Systems (PPS), owner and operator of the BYOjet Group to Flight Centre Travel Group Ltd. (ASX: FLT), IBN has maintained a 8.205% equity-like exposure via a potential future payment. The agreed potential future payment is to be determined by reference to PPS’ EBITDA for the financial year ending 30 June 2018.
The initial deal dated 21/12/15 where FLT invests in BYOJetgroup: