ADNEC Group acquires Karavel from Equistone

ADNEC Group acquires Karavel from Equistone

ABU DHABI - ADNEC Group has acquired Karavel, the French tourism group, from Equistone Partners Europe, one of Europe's leading mid-market private equity investors. Karavel is one of the largest tourism groups in France, offering travel packages to Europe, Middle East and Africa (EMEA) through its vast online and offline distribution network. This acquisition reflects the active deployment of ADNEC Group's strategy to geographically diversify its core sectors. It will strengthen the Group's international expansion while enhancing Karavel's growth and expansion into new markets and providing access to ADNEC Group's portfolio of assets and expertise in the tourism sector. This strategic move will also support Abu Dhabi's tourism vision, which aims to make the nation's capital of the UAE a global destination for culture, leisure, and business tourism. Karavel will join ADNEC Group's established tourism portfolio, which includes Tourism365 and its subsidiaries Capital Experience, Capital Travel, Capital Holidays, Etihad Holidays and Capital Drive and drive greater economic impact to Abu Dhabi and UAE. Humaid Matar Al Dhaheri, Managing Director and Group Chief Executive Officer of ADNEC Group, said, "The acquisition of Karavel is an important strategic step for ADNEC Group, as we deliver on our global expansion strategy and reaffirms