TGS Baltic advised "Enterprise Investors" in sale of "Novaturas"

03.07.2017 TGS Baltic advised "Enterprise Investors" in sale of "Novaturas"

TGS Baltic advised Enterprise Investors in sale of Novaturas, the largest tour operator in the Baltic States, held by it. Polish Enterprise Fund VI (PEF VI), a private equity fund, managed by Enterprise Investors, and minor shareholders signed an agreement with Itaka Holdings, the largest tour operator in Poland and the most important tour operator in the Central and East Europe.

In 2007, acquiring 71 percent of shares in Novaturas, Polish Enterprise Fund VI (PEF VI) paid EUR 40 million. In that transaction TGS Baltic team also were advisors to Enterprise Investors.

TGS Baltic Partner Marius Matonis, Associate Partner Aurimas Pauliukevičius and Associate Andrius Voska were the main advisors to Enterprise Investors in this process on all transaction related legal issues.

Novaturas is a company group providing services of organising holiday packages and roundtrip travels. It is the largest tour operator in the Baltic States, which started its activities in 1999. During a year, Novaturas company group organises over 3,400 flights in over 29 directions. In 2016, Novaturas generated income in the amount of EUR 102 million.