Home News Tui sells Travelopia in $407mn deal

Tui sells Travelopia in $407mn deal

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Specialist holiday arm goes to private equity firm
Travel group Tui is selling its specialist holiday arm Travelopia to the private equity firm KKR at an ‘enterprise value’ of $407 million (€383 million).
Tui put Travelopia, consisting of more than 50 brands offering specialist luxury, adventure and education holidays, up for sale in September as part of a drive to sell non-core assets.
It said on Monday that it would invest proceeds from the sale, which valued Travelopia at 14.4 times Travelopia’s 2015-16 operating profit (EBITA), into the transformation of its business, without giving further details.
The sale will result in a non-cash charge of around €133 million but will have no impact on Tui’s EBITA full-year guidance to grow by at least 10% this year. Tui published its first-quarter results on Tuesday.
Reuters

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