Australian travel group Flight Centre has reached agreement to buy UK-based luxury travel operator Scott Dunn in a deal worth around Aus$211m (€137m).
Flight Centre is looking for a presence in the luxury travel sector. This deal will give it entry to the UK and US markets. Scott Dunn is known for bespoke travel packages in the UK, US and Singapore.
The deal is expected to complete by the end of February.
Flight Centre is funding the deal mainly through a major share sale aimed at raising Aus$180m, with the additional cash coming from its own funds.