ProSiebenSat.1 Selling Tropo to dnata
Munich, August 9th, 2018. ProSiebenSat.1 is completing the strategic review of its travel segment and will be selling its entire stake in tour operator Tropo to dnata, which is part of the Emirates Group. dnata is one of the world's leading air services providers, and has been operating for over 50 years. dnata's family of travel businesses includes Imagine Cruising, Gold Medal Travel Group, Stella Travel Services and Travel Republic. This acquisition marks dnata's entry into the German market and extends its global network of travel businesses in Europe, the Middle East, Asia and Australasia. The purchase agreement also includes TV media volume worth several million euros for 2018 and 2019. The contract parties agreed not to disclose the details of the acquisition. The acquisition is subject to approval by the antitrust authorities.
ProSiebenSat.1 has held a majority stake in Tropo GmbH since 2012. In the roughly six years it has belonged to the media group, the tour operator for low-cost but high-quality travel packages, last-minute vacations, and hotel reservations has increased its brand awareness significantly through the use of TV advertising. The company has managed to defend its position, particularly in the difficult market environment over the past years.
Dr. Jan Kemper, Chief Financial Officer ProSiebenSat.1 Media SE and Executive Board Member Commerce: We're pleased to have found dnata as a very experienced buyer for Tropo which will operate on the further development of Tropo close to the own business model. At the same time, with this disposal we successfully complete the strategic review of our travel segment. We will henceforth concentrate on the further expansion of our activities with the NuCom Group in the Commerce segment.
Tom Meyer, Managing Director of Tropo: ProSiebenSat.1 has been instrumental in the development of Tropo over the past several years. Today, both our reach, thanks to the power of TV, and the operational support in various business disciplines allow us to look forward to the future with confidence. For that, we the team of Tropo offer them our gratitude, and we are looking forward to our partnership with dnata as a global player.
Iain Andrew, Divisional Senior Vice President Travel Services, dnata: We are delighted with this opportunity to have Tropo become part of dnata's travel portfolio. This acquisition enables us to enter the important and valuable German travel market, and enhances our portfolio of travel services in Europe. We see potential for significant synergies between Tropo and our other travel businesses around the world to provide very attractive and unique offerings to inbound and outbound travelers to and from Germany.
ProSiebenSat.1 began a strategic review of its travel portfolio in the spring of 2017. As a result, the company sold all of its stake in Etraveli to financial investor CVC in June 2017 and its entire stake in Comvel (weg.de) to online travel agency lastminute.com in December 2017. The sale of Tropo to dnata completes ProSiebenSat.1's review process for its travel portfolio.
ProSiebenSat.1 Group
ProSiebenSat.1 is the leading German entertainment player with a strong e-commerce business. We want to offer great entertainment - whenever, wherever and on any device. Every day, 45 million TV households in Germany, Austria and Switzerland enjoy our 14 free and pay TV channels. Overall, ProSiebenSat.1 generates 1 billion video views per month with its online offers. Every year, we invest more than one billion euros in 120,000 hours of programming.
Successful formats like Germany's next Topmodel , The Voice of Germany , Grey's Anatomy and Young Sheldon as well as top-notch stars like Heidi Klum, Joko and Klaas or Dwayne Johnson belong to our family. Shows like Bosch and Married at First Sight are created within our production and distribution business Red Arrow Studios. Our global video channel network Studio71 achieves 96 billion video views per year and operates more than 1,300 web channels.
Our NuCom Group is a growing e-commerce player with ten leading portfolio companies that offer online price comparison, gifting/events, dating and beauty, retailing with 360 million interactions a year.
ProSiebenSat.1 are 6,500 passionate creators that love to entertain and delight our viewers and consumers each day.
dnata
dnata is one of the world's largest air services providers. Established in 1959, the company ensures the aviation industry operates smoothly and efficiently in 130 airports. Offering ground handling, cargo, travel, and flight catering services in 85 countries across six continents, dnata is a trusted partner for over 300 airline customers around the world. Each day, the company handles over 1,800 flights, carries over 8,400 tonnes of cargo, assists over 240,000 passengers, books over 21,000 hotel stays, and uplifts over 320,000 meals.
Tropo GmbH
Tropo is the most dynamic tour operator for low-cost and high-quality travel packages, last-minute vacations, and hotel reservations. Each day, Tropo offers up to 200 million vacation options to every popular beach as well as every vibrant city around the world. With us, you can travel to destinations such as Spain (from Mallorca to Fuerteventura), Turkey, Egypt, Italy, Portugal, Greece, Dubai, and many other beautiful locations.
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ProSiebenSat.1 Selling Tropo to dnata
