EQT publishes Kuoni Group buyout prospectus
Private equity company EQT today published its takeover offer prospectus for the Swiss-based Kuoni Group.
The group's board of directors have unanimously supported the offer, describing the valuation as "fair and adequate".
The offer, valuing the company at about 1.39 billion Swiss francs or $1.4 billion, was made at the start of the month.
The group today revealed that turnover from continuing operations following the sale of its tour operating businesses, including Kuoni UK last year, was up by 6.9% to 3.3 billion Swiss francs.
Operating profits [EBITDA] rose by 17.3% to 124 million Swiss francs, with the Global Travel Distribution and VFS Global division being the main drivers.
The company said it continues to outperform the market with its continui