WP Holding (Wirtualna Polska Holding) is buying European on-line journey company Invia Group for roughly €240 million.
The Polish expertise holding firm, which is listed on the Warsaw Inventory Alternate, has signed a framework settlement to purchase all of the shares of the multi-brand OTA. Invia Group operates in Austria, Germany, the Czech Republic, Switzerland, Slovakia, Hungary and Poland.
Along with the upcoming buy of Invia Group, WP Holding additionally owns Szallas Group, which operates manufacturers within the home journey sector in Poland, Czechia and Romania, and Wakacje.pl, a web based journey platform in Poland.
The corporate will obtain 100% of Invia Group’s shares from present shareholders together with Rockaway Capital and CITIC Europe Holding.
With its newest buy, WP Holding stated it’ll have a complete vary of choices together with home and worldwide choices and can deal with transactions of greater than €2.5 billion.
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With regulatory approvals, WP Holding CEO Jacek Świderski stated that the transaction will mark the biggest funding in Germany and the fifth largest mergers and acquisitions transaction in Polish historical past by way of non-state owned firms.
“We need to mix the size offered by the Western European market and the expansion potential provided by the Central and Japanese European market,” Świderski stated. “For WP Holding, this additionally represents an identification shift. For the primary time in our historical past, we’ll generate extra income and earnings from journey operations than from media.”
Invia Group is mother or father to reserving platforms together with Ab-in-denUrlaub.de, Travelplanet.pl, Invia.cz, Invia.sk, Invia.hu and Fleuge.de, a web based journey company for flights.
“Becoming a member of forces with WP Holding represents a novel alternative for Invia Group to proceed its development and pursue formidable targets within the European on-line journey market,” stated Boris Raoul, CEO of Invia Group. “This transaction opens up solely new prospects for scaling our operations and strengthening our market place in key areas.”
WP Holding’s acquisition information is the most recent in a slew of strikes by huge journey manufacturers because the yr involves a detailed. Information got here Monday that Despegar has been acquired by Prosus. And Tripadvisor introduced it shopping for again its shares from Liberty Tripadvisor Holdings in a $435 million deal final week.
