FTI Group, Europe’s third largest tour operator and owner of Youtravel.com, is to change hands for the symbolic price of a euro.
It is being acquired by a consortium led by investment firm Certares, which specialises in travel and tourism, subject to regulatory approval.
As part of the deal, the consortium will invest €125m into the business.
FTI Group CEO Karl Markgraf said: “With support from Certares and its extensive experience in the sector and capital provided by the consortium, FTI is uniquely positioned for future growth and profitability which benefits all the stakeholders, including our customers, commercial partners and employees.
“We are committed to start our next chapter of success and to further consolidate our position as a leading player in the German and European tourism sector.”
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It is being acquired by a consortium led by investment firm Certares, which specialises in travel and tourism, subject to regulatory approval.
As part of the deal, the consortium will invest €125m into the business.
FTI Group CEO Karl Markgraf said: “With support from Certares and its extensive experience in the sector and capital provided by the consortium, FTI is uniquely positioned for future growth and profitability which benefits all the stakeholders, including our customers, commercial partners and employees.
“We are committed to start our next chapter of success and to further consolidate our position as a leading player in the German and European tourism sector.”
The post Youtravel parent FTI to receive €125m capital injection after being bought for a euro appeared first on Travel Gossip.
Continue reading...
