Acquisition of Tropo marks air service provider dnata's first entry into the German market
Air services provider dnata has acquired Germany-based tour operator Tropo from ProSiebenSat.1 Group, it was announced on Thursday, marking dnata’s first entry into the German market.
The purchase agreement also includes TV media volume worth several million euros for 2018 and 2019. Both parties have agreed to not disclose the details of the acquisition, which is still subject to the approval of antitrust authorities.
Tropo specialises in low-cost, high-quality travel packages and last-minute holidays and hotel reservations, with up to 200 million vacation options being offered each day. ProSiebenSat.1 has held a majority stake in Tropo since 2012.
“This acquisition enables us to enter the important and valuable German travel market, and enhances our portfolio of travel services in Europe,” said Iain Andrew, divisional senior vice president, travel services, dnata. “We see potential for significant synergies between Tropo and our other travel businesses around the world to provide very attractive and unique offerings to inbound and outbound travellers to and from Germany.”
Dr Jan Kemper, chief financial officer of ProSiebenSat.1, said that the company is “pleased to have found dnata as a very experienced buyer for Tropo which will operate on the further development of Tropo close to the own business model.”
“At the same time, with this disposal we successfully complete the strategic review of our travel segment. We will henceforth concentrate on the further expansion of our activities with the NuCom Group in the Commerce segment,” he said.