Friday, August 21, 2009

Egypt's Travco buys German hotel firm Steigenberger

CAIRO, Aug 20 (Reuters) - Egyptian tourist company Travco said on Thursday it had acquired Germany's Steigenberger Hotels as part of efforts to expand its international operations.
Travco, which values its assets in excess of 1.25 billion euros ($1.78 billion), did not disclose a value for the deal, citing an agreement between the two family-owned firms.

Read more:
http://in.reuters.com/article/consumerproducts-SP/idINLK69273620090820

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