Sabre sells Lastminute.com for a fraction of its buying price

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Swiss-based online travel agency Bravofly Rumbo Group NV is expected to purchase Lastmintue.com from Sabre Corp in a deal valued at around A$147 million (US$120m), a fraction of the price Sabre paid when it purchased the company in 2005.

Sabre purchased Lastminute.com from Travelocity for around A$1.1 billion (£577m) 9 years ago, but has been looking for a buyer since August saying it wanted to focus on its core business.

OTA Bravofly is reportedly growing its business through acquisitions in Europe and expects the latest transaction to result in combined revenue of more than US$325.6 million.

Under the deal, which is touted to close in the Q1 2015, Bravofly and lastminute.com will continue to use Sabre’s distribution system, the WSJ reported.

Bravofly currently focuses on selling travel products and services, including cruises, to primarily Italian, Spanish and French travel markets.

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