SAO PAULO - Brazilian loyalty program operator CVC Brasil Operadora e Agencia de Viagens SA has agreed to acquire three Argentine travel companies for about $20 million, CVC said on Wednesday, in line with its international expansion strategy.
In a securities filing, CVC said it signed a memorandum of understanding to purchase Servicios de Viajes Y Turismo Biblios SA and Avantrip.com, both controlled by Grupo Biblos America, or Bibam, in an operation worth about $5.375 million.
The firm also signed a memorandum of understanding to purchase Argentina's Ola Transatlantica Turismo in a deal worth about $14.04 million.
With the deals, CVC said, it will become one of Argentina's top three travel booking firms.
(Reporting by Gram Slattery Editing by Jeffrey Benkoe) ((gram.slattery@thomsonreuters.com; +55-11-5644-7714))
