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The divisions being sold had an underlying EBITDA of $22 million in pre-pandemic 2019, representing an acquisition multiple of eight instances. That is higher than Corporate Travel has paid in other offers in current years, with one as low as 4.25 occasions. Mr Burnes is a former federal Liberal Party treasurer, raising market questions about whether or not Corporate Travel could be as profitable in profitable contracts given his data of the federal government sector.

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