The Acquisition of NetTravel.cz and LastMinute.sk is part of our strategy of rapid expansion in Central and Eastern Europe. Its aim is overall strengthening and consolidation of Invia's position, leading to its entry onto the Warsaw Stock Exchange. Our company expects that by subscribing for shares it will access funds which it will use for expansion and consolidation in other countries.
(PRWEB) July 1, 2009
Invia.cz., s.r.o. (Ltd.), which is owned by the MCI.TechVentures investment fund, member of the Polish MCI Management SA financial group, the Swiss investment fund Internet Travel Holding AG, and several natural persons, has purchased 100% interest in NetTravel.cz.s.r.o. from Unimex Group, a.s. (joint-stock company) and other owners, most of them the original founders of the company. Through this merger Invia.cz is consolidating its position in the field of internet sale of tourist services, and envisages to reach an aggregate annual turnover of approximately 2.4 billion CZK (92 million EUR).
The Invia.cz group is also taking over the LastMinute.sk, s.r.o. subsidiary, a major player on the Slovak market.
Commenting on the transaction, Michal Drozd, Managing Director of Invia.cz, explains: "The Acquisition of NetTravel.cz and LastMinute.sk is part of our strategy of rapid expansion in Central and Eastern Europe. Its aim is overall strengthening and consolidation of Invia's position, leading to its entry onto the Warsaw Stock Exchange. Our company expects that by subscribing for shares it will access funds which it will use for expansion and consolidation in other countries."
Petr Staněk, one of the former co-owners of NetTravel.cz, says: "We are highly satisfied with the agreement, both companies will strongly benefit from this merge. When looking for a potential investor, we sought to find one that would guarantee further development of our company. This was our main criterion, and we have no doubt that Invia.cz, with the solid background provided by its investors, meets it."
The NetTravel.cz and LastMinute.sk portals will continue offering all the current services, and the change in ownership will have no impact on the clients.
Both sides have agreed that the value of the transaction shall not be made public.
Contacts for the media:
Michal Tůma, Marketing Director Invia.cz
tel: 226 000 051
Petr Staněk, Marketing Director NetTravel.cz
tel: 242 426 121• fax: 242 426 101
Invia.cz, s.r.o. travel agency was founded in 2002 and for several years now it ranks first among online vacation package sellers in the Czech (http://www.invia.cz) and Slovak Republics (http://www.invia.sk). In the Central European region, it cooperates with 420 travel bureaus, and is the largest commission partner for a number of tour operators. Of the wide range of Invia's services, the most successful and popular with clients include the sale of not only vacation packages but also flight tickets, accommodation or car hire. In 2008, Invia sold vacation packages to 111 000 clients and reached a turnover of 1.5 billion CZK. Our travel agency has a network of over 40 client centres throughout the Czech Republic, and since 2007 has also been active in Poland (http://www.invia.pl), Hungary (http://www.invia.hu) and Romania.
MCI Management SA
MCI Management SA is a capital fund specializing in investments into hi-tech businesses in Poland, the Czech Republic and Slovakia. Its shares have been traded on the Warsaw Stock Exchange since February 2001.
In 2008, it purchased a 50.1% interest in Invia.cz.
NetTravel.cz, s.r.o. provides authorized internet sale of more than 100 000 vacation packages from more than 150 major travel bureaus active on the Czech market to clients all over the world, and is one of the three largest online travel agencies in the Czech (http://www.nettravel.cz) and Slovak Republics (http://www.lastminute.sk). Its aggregate turnover has come close to 400 million CZK.
Unimex Group a.s.
Unimex Group, a.s. was founded in 1991, and has gradually become one of the largest private companies in the Czech Republic. It participates in projects in the areas of DIY, housing, industrial and hotel development, tourism and trade in branded goods. The aggregate turnover of the firms in the Unimex Group, a.s. in 2008 exceeded 17 billion CZK, and the group's total balance was 10 billion CZK.
In 2005, Unimex Group, a.s. bought a 50% interest in NetTravel.cz.