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KKR buying TUI's Travelopia for $403.7 million

Staff Writer | February 14, 2017
KKR & Co. agreed to buy German travel operator TUI AG's Travelopia for EUR381 million ($403.7 million).
Acquisition   TUI is restructuring
The deal, part of TUI's restructuring, is expected to close in the coming months and result in a non-cash charge of about EUR133 million, the German company said.

In September, TUI sold Hotelbeds Group for EUR1.19 billion and said it was seeking buyers for Travelopia, which holds a portfolio of more than 50 independently operated brands.

Travelopia, based in the U.K., had been managed as an independent business since the 2014 merger of TUI AG and TUI Travel PLC.