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Swedes named as preferred bidders for Kuoni

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Group names Swedish private equity firm EQT
Swedish private equity firm EQT has emerged as the lead candidate to buy Kuoni Group, the Swiss travel firm confirmed in a statement.
Kuoni Group has undergone significant transformation over the last year. It has sold off its tour operating units, which included businesses in the UK, and is now concentrating on other areas such as visa services and B2B accommodation.
Earlier this month it revealed it had been approached by a number of parties about buying the company.
“Kuoni Group’s Board of Directors confirms that EQT has emerged as the preferred party from a competitive process regarding a potential takeover offer for the Kuoni Group and other strategic options,” a statement said.
“Final negotiations with EQT for a potential takeover offer for Kuoni Group are in progress. At this stage, no final decisions have been taken and there can be no certainty that an offer will be made, nor as to the terms on which any offer might be made.”
Last November, Kuoni appointed a new chief executive and announced an extensive restructure of its Global Travel Services division. Kuoni Travel in the UK is now a separate company, having been bought by German cooperative Rewe Group last September.
TTG Digital

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