Estonia, Legislation, Mergers and take-overs, Tourism, Transport

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 07:12

Estravel given permission to buy Mainor Meelis

BC, Tallinn, 19.06.2018.Print version
The Estonian travel agency Estravel has received permission from the Competition Authority to acquire the travel agency Mainor Meelis OU, informs LETA/BNS.

Estravel at the end of May signed an agreement to acquire the full holding from the company's sole owner Juri Rebane Kinnisvara OU.


Estravel said that the merger helps it to offer consumers better prices for the same travel services or a better service for the same prices. If joint expanded tender agreements with travel service providers -- airlines, hotel chains, package travel organizers -- are used, increased purchase volumes will bring along more favorable conditions, including more favorable cost prices, the company said.


Last year, the consolidated revenue of Estravel AS was 88.1 million euros and that of Mainor Meelis OU approximately 2.6 million euros. The number of employees was 136 for Estravel and nine for Mainor Meelis. The business activity of Estravel AS will not change with the takeover and no employees will be laid off.


On goods markets, in which both mergers participate, the market share of the companies' sale of international plane tickets according to last year data makes up less than 10 percent and the sale of foreign hotel accommodation less than 5 percent. According to 2016 data, the sale of package travels abroad made up 11 percent of all package travel offered by Estonian travel organizers that was headed out of Estonia.






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