CVC does agreement to acquire most of travel Trend group

SAO PAULO (Reuters)-the tour operator CVC CVCB3.SA announced Wednesday agreement to acquire most of the operations of the tourism group Trend for up to 258,800,000 reais.
The CVC said it will purchase 90% shares of Check In holdings, which is part of the Trend and will consolidate all the relevant business of the group, after a corporate reorganization.
According to CVC, the Trend Group has about 800 employees, operates in brokering national and international hotels and is suited to both business and leisure. In 2016, the confirmed reserves totaled 1.2 billion reais.
"The acquisition of Check In is an excellent strategic opportunity, complementary to the company''s operations (CVC), strengthening, thus, your leading position in the sector of travel in Brazil," said the company in a statement to the market.
The CVC also stated that the Executive Luís Paulo Luppa de Oliveira Couto will remain as President and minority shareholder of Check In.