Booking Holdings Inc. completed the acquisition of Etraveli AB from CVC European Equity Partners VI LP, a fund managed by CVC Capital Partners Limited and other minority sellers.
September 28, 2022
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Booking Holdings Inc. (NasdaqGS:BKNG) entered into an agreement to acquire Etraveli AB (publ) from CVC European Equity Partners VI LP, a fund managed by CVC Capital Partners Limited and other minority sellers for 1.6 billion on November 23, 2021. Etraveli Group will remain headquartered in Sweden and operate as an independent business under Booking Holdings, led by their current management team. Completion of the acquisition is subject to certain closing conditions, including regulatory approval. As of September 29, 2022 CMA has decided, on the information currently available to it,not to refer the merger to an in-depth, Phase 2 investigation under the provisions of the Enterprise Act 2002 and approved the deal. As of November 16, 2022, the European Commission has informed of the opening of an in-depth investigation to examine whether the purchase operation of the Etraveli by Booking could hinder competition in the sector of 'online' travel platforms in which both companies operate. Robert Innes, Dominic Robertson, Philippe Chappatte and Kerry O'Connell of Slaughter and May acted as legal advisors to Booking Holdings Inc. Edelman & Co., Ltd. acted as financial advisor to Booking Holding. Roschier Advokatbyrå AB acted as legal advisor to CVC Capital Partners Limited. Jens Wenzel, Alf-Henrik Bischke, and Antonia Hösch of Hengeler Mueller Partnerschaft von Rechtsanwälten mbB acted as legal advisor to Booking Holding.
Booking Holdings Inc. (NasdaqGS:BKNG) completed the acquisition of Etraveli AB (publ) from CVC European Equity Partners VI LP, a fund managed by CVC Capital Partners Limited and other minority sellers on September 29, 2022.
Booking Holdings Inc. is one of the world's leading online travel companies. The group offers a broad range of travel services: hotel booking, car rentals, airline tickets booking, combined trips, customized trips, cruises, etc.
Net sales are distributed geographically as follows: the United States (10.9%), the Netherlands (79.6%) and other (9.5%).
Booking Holdings Inc. completed the acquisition of Etraveli AB from CVC European Equity Partners VI LP, a fund managed by CVC Capital Partners Limited and other minority sellers.