Kuoni buys majority stake in Dutch firm
The travel agent, Kuoni, has strengthened its position in services for incoming tourists to Europe by buying a 70 per cent stake in the Dutch company, Inter Holland Travel.
The travel agent, Kuoni, has strengthened its position in services for incoming tourists to Europe by buying a 70 per cent stake in the Dutch company, Inter Holland Travel.
Inter Holland Travel, with a staff of 14 in Amsterdam, generated sales of nearly nine million Swiss francs last year and a net income of around 220,000 Swiss francs.
It takes care of around 50,000 visitors to Europe every year.
The minority interest of 30 per cent will remain in the hands of the company's former owner, Robert Van der Mee, who will stay on as general manager.
Kuoni has retained an option to buy up the remaining equity if Van der Mee leaves the firm.
In addition to leisure and business travel, incoming is the third sector of operations in which Kuoni is active worldwide.
It generated a turnover of more than three hundred million Swiss francs in the financial year 1998.
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