The transaction is conditioned on the majority approval by Travelport’s bank lenders and a vote by the shareholders of Kuoni in favour of a capital increase by Kuoni to finance the transaction.

The sale, scheduled for completion in May, is conditioned on the majority approval by Travelport’s bank lenders and a vote by the shareholders of Kuoni in favour of a capital increase by Kuoni to finance the transaction.

Jeff Clarke, CEO and president of Travelport, said the agreed sale was in line with Travelport’s strategic plan to focus on maximising the potential its core businesses.

“Kuoni is a well known and long-term customer of Travelport and our aim will be to work in partnership with them to improve further the distribution and sale of the combined Kuoni/GTA inventory across the Travelport subscriber network,” he added.