March 3, 2018 / 11:09 AM / a year ago

Equistone Partners in talks to buy French tour operators Promovacances, Fram

PARIS (Reuters) - Private equity firm Equistone Partners Europe confirmed on Saturday that it had entered exclusive talks to buy French online travel agency Karavel-Promovacances and tour operator Fram from investment firm LBO France.

A deal for the companies with combined revenue of around 600 million euros could be finalised in April, a spokeswoman for Equistone told Reuters, confirming a report in Le Figaro.

Further details were not immediately available.

This latest move follows recent consolidation in the French tourism sector, notably the acquisition of Look Voyages and Vacances Transat by sector leader TUI France.

Equistone initially bought Karavel-Promovacances in 2007 before selling it to LBO France in 2011. LBO France had bought Toulouse-based Fram in 2015.

Reporting by Dominique Vidalon; Editing by Stephen Powell

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