The fund Equistone should redeem Promovacances and Fram


PARIS (Reuters) – The investment fund Equistone Partners Europe has confirmed on Saturday that he had begun exclusive negotiations with the private equity firm LBO France in respect of the redemption of the group Karavel-Promovacances and tour operator in toulouse Fram.

The agreement on the resumption of all Karavel-Promovacances, and Fram, whose combined annual turnover amounts to approximately € 600 million, could be concluded in the month of April, said to Reuters a spokesman for Equistone, confirming information of le Figaro, without providing further details.

This operation is part of a vast movement of consolidation in the French sector of tourism, including the recent revival of Look Voyages and Vacances Transat by the number one TUI France.

Equistone has already been owner of Karavel-Promovacances, that he had bought in 2007 and sold to LBO France in 2011.

LBO France had taken over at the end of 2015, the tour operator toulousain Fram, then in receivership.

(Dominique Vidalon, Myriam Rivet for the French service, edited by Arthur Connan)

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