A deal seeing TUI acquire a 20% stake in Swiss tourism giant Bentour Reisen has successfully completed, after having received regulatory approval.
The deal was first announced last month: TUI Acquires 20% Stake in Swiss Operator Bentour Reisen – ittn.ie
The share swap move sees TUI acquire a 20% stake in Bentour Reisen – and Bentour Reisen receive a 20% stake in TUI subsidiary Nazar Nordic.
Nazar Nordic provides luxury packages to Türkiye, Greece and Bulgaria; while Bentour Reisen is a well-known Swiss operator focused on the Turkish market as a destination.
While both focus on the same destinations, both operate in different markets. Bentour Reisen is active in the German-speaking markets of Austria, Switzerland and Germany, while Nazar concentrates on the customer and source markets of Denmark, Norway, Sweden and Finland.
David Schelp, CEO Markets & Airline TUI Group, said: “The all-inclusive market is developing very well. It offers customers a great deal of security. Demand is encouraging, especially in holiday destinations such as Türkiye and Greece. As a subsidiary of TUI Nordic, Nazar is well positioned in the Nordic markets and has great potential for further growth. Bentour is an excellent partner with whom we want to shape our growth together. Customer focus and quality standards are values that both companies share.”
