Apr
28
TUI Group to Sell Hotelbeds Group for $1.3 Billion
ByLONDON — The European tourism company TUI Group said on Thursday that it had agreed to sell Hotelbeds Group to the private equity firm Cinven and the Canada Pension Plan Investment Board for 1.19 billion euros, or about $1.3 billion.
Hotelbeds, TUI’s wholesale hotel-room booking business, was not considered part of its core business and had been operated separately. It provides hotel bookings to travel agencies and tour operators in more than 120 countries.
In the fiscal year ended Sept. 30, Hotelbeds had revenue of €1.06 billion…
TUI Group to Sell Hotelbeds Group for $1.3 Billion
