Wednesday, Jan 04, 2012
BEIRUT (Zawya Dow Jones)--Dubai-based state-owned Dnata, the world's fourth largest air services provider, has acquired a controlling stake in U.K.-based Travel Republic which offers online tourism and travel services, Abu Dhabi-based Al Ittihad daily reports Wednesday.
This new investment allows Dnata to tap the increasing prevalence of online booking, which has seen a significant growth in the past few years, Iain Andrew, senior vice president of Dnata's travel services division, said according to the paper.
No value was given for the deal. Dnata is wholly owned by Investment Corporation of Dubai, according to Zawya.com.
The move came after Dnata entered the Indian market, and Travel Republic will be an ideal complement to the tourism and corporate travel services that Dnata provides locally and globally, he added.
Newspaper website: http://www.alittihad.ae/details.php?id=1047&y=2012&article=full
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
04-01-12 0731GMT
