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Mon 9 Mar 2015 02:12 PM

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Dubai's dnata buys majority stake in UK cruise holidays firm

Air services provider, part of the Emirates Group, signs deal for majority stake in Imagine Cruising

Dubai's dnata buys majority stake in UK cruise holidays firm

Dubai-based air services provider dnata announced on Monday it has signed an agreement to purchase a majority stake in Imagine Cruising, one of the UK's leading cruise and stay holiday distributors.

dnata said in a statement that the deal with Imagine, which work with cruise lines, airlines, hotels, luxury trains and ground handlers to create exclusive luxury holidays to worldwide destinations, will benefit both companies.

It did not disclose the value of the deal for the stake.

Based in Swindon, UK, with offices also in Cape Town, South Africa, Imagine Cruising provides passengers with a range of cruise options around the world. Globally, the cruise sector is one of the fastest growing within the travel industry with more than 23 million travellers worldwide this year.

"Imagine Cruising is a key distributor of cruise products around the world. The addition of the company to the dnata portfolio adds expertise in the growing cruise sector, strengthening our position as an international leader in travel services," said Iain Andrew, divisional senior vice president of dnata's travel business.

"The partnership between Imagine Cruising and dnata will support the development of both businesses," added Robin Deller, managing director, Imagine Cruising.

Completion of the acquisition remains subject to merger control clearance in South Africa. dnata and Imagine Cruising will continue to operate independently pending completion, a statement said.

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