Brazil travel firm CVC buys three Argentine companies for $20 mln
CVC will purchase two companies controlled Bibam in an operation worth about $5.375 million.
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.
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