El Corte Inglés buys back 25% of its travel subsidiary from Tool Factory and acquires 100% of the group
World2 sources2 countries🔦 Under-reported45m ago
El Corte Inglés has reached an agreement to repurchase a 25% stake in its travel subsidiary, Viajes El Corte Inglés, from Tool Factory. By acquiring this remaining portion, the retail group now holds 100% ownership of the travel division. The company confirmed the transaction in a statement released this Thursday.
This acquisition follows the previous integration of Logitravel into the Viajes El Corte Inglés group. The move marks a consolidation of the company's travel business, allowing the retailer to regain full control over the subsidiary's operations and strategic direction.
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El Mundo (Madrid, Spain)Highlights the strategic integration of Logitravel as a key driver
Newz