Switzerland's news in English

Editions:  Europe · Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Sweden's EQT 'best suited' to take over Kuoni

Share this article

Sweden's EQT 'best suited' to take over Kuoni
Photo: Kuoni
08:38 CET+01:00
Swiss travel group Kuoni says it considers Swedish investment fund EQT the best suited to take it over, but that no final decisions about a buyout have been made.

The Zurich-based firm has been undergoing a major restructuring for the past year, and acknowledged earlier this month that it had been approached by potential buyers.
"Kuoni Group's Board of Directors confirms that EQT has emerged as the preferred party from a competitive process regarding a potential takeover offer for the Kuoni Group and other strategic options," the company said in a statement late on Thursday.
"Final negotiations with EQT for a potential takeover offer for Kuoni Group are in progress," it said.
Kuoni said though that "at this stage, no final decisions have been taken and there can be no certainty that an offer will be made, nor as to the terms on which any offer might be made."
The announcement came after the Swiss company saw its shares skyrocket 6.7 percent to 334 Swiss francs apiece in trading on Thursday, as the SPI index slumped 1.76 percent, after Bloomberg reported that a deal with EQT was near.

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

VIDEO: Three surprising facts that will make you want to visit Malta

Game of Thrones has ended but it lives on in Malta! Find out how and learn two more unexpected facts about this little archipelago in the middle of the Med.