Buyout firm Cinven has emerged as the leading candidate to takeover Tui Group’s accommodation specialist Hotelbeds.
News agency Bloomberg reported that the company was in the final stages of negotiations having beat off competition from rivals.
A deal could be announced as early as this week.
Tui has been seeking a new home for its bed bank since last year. There had been speculation that EQT Partners, which is in the process of buying Kuoni, was favourite to acquire the business.
Tui and Cinven declined to comment to Bloomberg.
Source: ttgmedia.com
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