Spanish investment fund GED makes the first step towardsdeveloping the biggest travel group on the Romanian market byacquiring the biggest online airline ticket agency Paravion.ro,through travel agency Happy Tour.
The acquisition of Paravion.ro for an amount put by ZF at around500,000 euros, is part of GED's consolidation on the travel market,which started back in December 2007 with the acquisition of HappyTour.
Following the consolidation model of GSM services retailers intoFonomat dealer, the Spanish investment fund announced upon takingover Happy Tour that it was planning to invest 15 million euros inthe company and in the acquisition of other travel operators, aswell, between 2008-2011.
"We see the online segment as a main business line, which we expectwill record two-digit rises, due to the strong demand for this typeof services. By acquiring the Paravion.ro platform, web pages, theknow-how and the technology, the group took a big step forward,"according to GED representatives.
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