December 23, 2016 / 10:40 AM / a year ago

Czech firm Rockaway buys German online travel group Unister's assets

PRAGUE (Reuters) - Czech-based internet investor Rockaway Capital will acquire assets of insolvent German online travel company Unister, including popular sites like flight booking platform and package travel site, it said on Friday.

The German acquisition is the latest step in Rockaway’s expansion in the online travel business in central Europe to go with its Czech site Invia. In July this year it took full control of Polish site

Rockaway, owned by investor Jakub Havrlant, will jointly finance the German deal with Chinese company CEFC, which has expanded its presence in the Czech Republic in recent years with an acquisition spree, including breweries and a Prague soccer club.

Financial details of the Unister buy were not disclosed. Rockaway said it expected the deal to close at the beginning of 2017.

“As Invia and the former Unister companies... have the same business model, our focus will be on leveraging combined forces and expertise with the vision to create a pan-European (online travel agency) leader,” Rockaway investment partner Jaroslaw Czernek said in a statement.

He said the group would have access to around 140 million potential customers with the new acquisition.

It said the deal would close in 2017.

Reporting by Jason Hovet; Editing by Adrian Croft

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