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Nomad in search for new owner

Tanzanian safari company Nomad is on the hunt for a new owner.

The company is working with corporate advisers Cavendish to explore new options for the business after receiving several buyout approaches, according to The Telegraph.

It is thought the brand, which offers luxury safari options, could be worth around £18 million.

Several individuals have already shown an interest in Nomad, as well as some luxury travel brands.

The business has been running for 20 years and operates in remote parts of Tanzania.

According to the newspaper, a deal is likely to involve an exit for certain shareholders who are not part of the business day to day, with additional funding to potentially acquire other operators.

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