ProSiebenSat.1 acquires Etraveli from Segulah for approximately EUR 235 million
The ProSiebenSat.1 Group is further expanding its eCommerce business activities via the acquisition of Etraveli Holding AB through its investment subsidiary 7Travel. Based in Uppsala, Sweden, Etraveli was founded in 2007 and is a leading pan-European online travel agent for flights. ProSiebenSat.1 has acquired 100% of the shares in Etraveli from Segulah IV L.P., a private equity company in the Nordic region, for an overall valuation of approximately EUR 235 million. The acquisition is subject to approval by the German Federal Cartel Office and by the Austrian Federal Competition Authority.
For ProSiebenSat.1, Etraveli represents its largest international investment in the eCommerce field to date and is an ideal supplement to the travel portfolio of umbrella brand 7Travel: In addition to airline tickets, the portal offers a wide variety of other travel-related services, such as hotel accommodations and rental car reservations. The company operates in 40 countries and on four continents through brands such as Supersaver, Gotogate, Travelstart, and Seat24. In addition, in Sweden Etraveli operates the airline price comparison websites Flygresor.se and Charter.se.
The ProSiebenSat.1 Group is one of the largest independent media corporations in Europe. In the 2014 financial year, the Group generated revenues of approximately EUR 2.9 billion. The company is listed on the Frankfurt Stock Exchange as well as on the Luxembourg Stock Exchange.
ProSiebenSat.1 was advised by Mannheimer Swartling in the transaction. The firm’s team consisted primarily of Jan Holmius, Jonas Lagerroos, Marcus Glimberg and Johan Sundqvist (M&A), Martin Nilsson, Henrik Johansson and Carl Lindberg (Structuring, Tax), Andreas Zettergren and Adam Rångemyr (Financing) and included specialists from various other practice areas of the firm.