The merger of the Travel Trust Association and Worldchoice is unlikely to be complete until after the end of next month.
Consortia bosses admitted they underestimated how long a merger would take but insisted the deal was still on track. They had initially hoped the process, started in February, would be complete by April.
But extra checks during the due diligence process, in part due to the current economic climate, are blamed for slowing the process down.
TTA director Todd Carpenter anticipated the circular on the deal would be sent out to agents by the end of this month following court approval, with an extraordinary general meeting likely by the end of August.
He said: “We underestimated the length of time the process would take. There is no reason why it shouldn’t happen we have our funds and everyone is set. The game plan is to get the circular out by the end of the month and I would expect an EGM by the end of August.”
Worldchoice chairman Colin Heal added: “We are genuinely in the last stages. The due diligence has been much more strung out than normal and we were optimistic about the speed we thought we could push it through.”