CVC announces purchase offer by Argentinian Almundo for US $77 mi

SÃO PAULO-the submarine Viagens, controlled by CVC, signed a binding proposal for the acquisition of the Argentine tourism operator Almundo for 77 million dollars in cash, with net debt discount, according to the relevant fact of the Brazilian company in Thursday night. According to the announcement, Almundo is a digital native tourism company, with presence also in Colombia, Mexico and Brazil. In 2018, it had annual reserves of 425 million dollars and net revenues of 60 million dollars. The submarine travels will have a deadline of 90 days of exclusivity for completion of the acquisition. "The acquisition is in line with the strategy of creating the best (on and offline) shopping and travel experience throughout the consumer journey," said CVC Corp.Na analysts view of Itaú BBA, the acquisition, if successful, is aligned with the strategy of Company to expand out of Brazil, focusing on Latin America. " In addition, the transaction will strengthen the digital platform of the company, given the experience of Almundo in this channel, besides reinforcing the presence of the company in Argentina in the light of the recent acquisitions of CVC in the country ", stated in a note to customers.