German tour operator FTI gets USD 130 mln investment in Certares-led merger

Germany's FTI Group on Tuesday signed an acquisition of proposal from a consortium of investors led by US travel -focused fund Certares, which includes a 125 million euro ( USD 132.83 million) investment in the company.

"We are committed to start our next chapter of success and to further consolidate our position as a leading player in the German and European tourism sector, " FTI's Chief Executive Karl Markgraf said in a statement.
Based in Munich, FTI is Europe's third-largest tour operator with annual consolidated sales of around 4.1 billion euros. It employs 11,000 people worldwide.
(1 USD = 0.9411 EURO)

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