ProSiebenSat.1 divests Etraveli
ProSiebenSat.1, an independent media company with a strong presence in the TV and digital markets, has agreed to divest Etraveli, a global online travel agency (OTA) for flights operating under the brands Gotogate, Supersaver and Seat24, and also operating flight comparison portals in Sweden under the brands Flygresor.se and Charter.se, to CVC Capital Partners for an enterprise value of EUR 508 million.
Etraveli, which is headquartered in Uppsala, Sweden, was acquired by ProSiebenSat.1 in 2015 and has since then significantly increased its revenues and earnings. Etraveli has in recent years focused on internationalization and now operates in around 50 countries.
The transaction is subject to approval by relevant competition authorities.
ProSiebenSat.1 was advised by Mannheimer Swartling in the transaction.