Romanian investor sells market-leader tourism business to German group Rewe

Romanian investor Dragos Anastasiu will sell all of his tourism operations gathered under the Eurolines Group to DER Touristik Group, which is part of German retail and tourism group Rewe.

Eurolines is the biggest tourism group in Romania while Rewe controls the local Penny Market discount supermarket chain. The value of this deal was not made public.

The transaction targets only the tourism operations of the Eurolines Group (the group also has international transport operations), namely the tour operator activities, retail and business travel, and incoming. These operations will be transferred to the firm Travel Brands which will be taken over by Prague-based Exim Holding, part of DER Touristik group.

The deal has already been approved by the Competition Council and should be completed this fall. All employees and offices targeted by this transfer will be kept, Eurolines announced.

The Eurolines Group is the leader of the tourism market in Romania, with 80 travel agencies under the TUI TravelCenter, TravelBrands and Eurolines brands and a yearly turnover of EUR 150 million.

DER Touristik is one of the biggest tourism groups in Europe, with 130 companies and over 10,500 employees in 15 countries, and a total turnover of EUR 6.7 billion. The group has been operating in Romania since 2004 with the company Dertour Romania.

(Photo source: Eurolines-group.ro)