Orbis Group Sells Its Tour Operator to Enterprise Investors

Posted January 19th, 2010 in Business news by Ela Pawełek-Lubera

Hotel group Orbis sold its 95.08% stake in its tour operator Polskie Biuro Podróży Orbis to private equity fund Enterprise Investors’ unit for a “small” price, Orbis said in a market filing.

“The price is small and is of secondary importance taking into account that PBP Orbis has been posting losses recently,” the company said.

Based on the agreement signed on January 6, the Central European Tour Operator from Enterprise Investors group bought 47% stake in PBP Orbis, operating under the brand Orbis Travel, and will buy the remaining 48.08% stake provided it gets the green light from anti-trust body UOKiK, the filing read.

Source: www.warsawvoice.pl

This entry was posted on Tuesday, January 19th, 2010 at 15:36 and is filed under Business news. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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