Navigation

Kuoni announces British acquisition

Swiss travel group Kuoni will boost its online offer with the acquisition of British internet services company Gullivers Travel Associates.

This content was published on March 7, 2011
swissinfo.ch and agencies

Kuoni said on Monday it will pay $720 million (SFr660 million) for GTA which would be financed through a new credit facility worth SFr600 million.

It will also look to raise an additional SFr250 million via a discounted share offer from the privately-owned US-based Travelport.


“In acquiring GTA, Kuoni is investing in one of the fastest-growing business segments within the tourism industry,” Kuoni chief executive Peter Rothwell said in a statement.

GTA recorded turnover of $1.189 billion in 2010 and saw net profits rise ten per cent to $294 million for the year.

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

Change your password

Do you really want to delete your profile?

Newsletters
Your subscription could not be saved. Please try again.
Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.

Discover our weekly must-reads for free!

Sign up to get our top stories straight into your mailbox.

The SBC Privacy Policy provides additional information on how your data is processed.