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The world’s largest tourist organisation, TUI Group, has confirmed the completion of the disposal of Travelopia.
The deal was originally announced in February 2017.
The move comes as TUI Group seeks to continue its transformation to an integrated tourism group with main focus on hotel and cruise businesses.
Kohlberg Kravis Roberts will take over from TUI at Travelopia for an enterprise value of £325 million.
All regulatory approvals required have been granted by the relevant authorities.
This marks the completion of the transaction.
Travelopia was previously part of Specialist Group and comprises a portfolio of more than 50 specialist travel brands.
It had been managed as an independent unit since the merger of TUI AG and TUI Travel at the end of 2014.
TUI Group is the world’s number one integrated tourism group operating in around 180 destinations worldwide.
The company is domiciled in Germany.
Sоurсе: breakingtravelnews.com
