SWISS-BASED OTA Bravofly Rumbo Group (BRG) yesterday completed its acquisition of Sabre Corporation’s lastminute.com, following its binding offer for the business last December and fulfillment of the employee information and consultation process.
According to a Sabre media release, the completion means BRG has acquired all of lastminute.com’s global operations in the UK, France, Germany, Spain and Italy, elevating BRG’s 2014 pro-forma Gross Travel Value to approximately 2.5 billion euros (US$2.8 billion), with revenues of nearly 260 million euros.
The transaction has no material effect on BRG’s net cash position. BRG will communicate further details of its long-term integration roadmap and respective group targets in its FY2014 earnings data scheduled for release on March 26.
The decision to sell lastminute.com is part of Sabre’s strategy to focus on its core businesses – Travel Network and Airline and Hospitality Solutions, according to the sameSabre release.
