The Carlyle Group has carried out its second deal for a Spanish company this week, paying an undisclosed sum to acquire a 50 percent stake in Spanish online travel agency Rumbo for its portfolio company Orizonia Corporación.
Toledo: A Rumbo
Spanish telecoms company Telefonica has acquired the other 50 percent stake. As part of the transaction Rumbo will acquire online travel agency Viajar.com from Orizonia Corporación and Terra Business Travel, Telefónica's corporate travel division.
Predicted turnover at Rumbo will be more than €500 million ($338.1 million) in 2008. Rumbo and Orizonia together had a turnover of €3 billion in 2007.
It is the fourth deal by Orizonia since Carlyle bought the company in 2006 alongside Banco Santander’s captive firm Vista Capital for an undisclosed sum. As well as acquiring Viajar.com, it has acquired Condor Vacaciones, an online travel agency and it has created a joint venture with Carnival Corporation.
Earlier this week Carlyle began a planned buy and build strategy at Spanish inspection company Applus, which bolted on MB Inspection in a trade buy for an undisclosed sum.