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ProSiebenSat.1 sells online travel agency Etraveli to CVC
June 20, 2017 / 6:18 AM / 3 months ago

ProSiebenSat.1 sells online travel agency Etraveli to CVC

FRANKFURT, June 20 (Reuters) - German broadcaster ProSiebenSat.1 said it had agreed to sell Etraveli Holding to CVC Capital Partners as part of a review of its online travel businesses.

Etraveli has an enterprise value of 508 million euros ($567 million), having grown from 235 million when ProSieben bought the business in 2015, the group said in a statement on Tuesday.

It said the deconsolidation of Sweden-based Etraveli, expected in the third quarter, would prompt it to adjust its 2018 targets, adding it would provide details on the revision at its Capital Markets Day on Dec. 6.

$1 = 0.8960 euros Reporting by Maria Sheahan, editing by Thomas Escritt

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