FINANCIAL NEWS

Kuoni to purchase two Dubai firms

04 Nov 2010

(MENAFN) Chief Executive Officer of Kuoni, a travel company, announced that the UK based organization has purchased two UAE-based companies, in efforts of expanding within the Gulf region, Gulf News reported.

The acquired companies are Gulf Dunes LLC, which is one of the region�s market leaders in the meeting, incentive, congress and event field (MICE), and Reem Tours and Travel LLC which is a destination management company with a strong customer base in South America.

All employees of the acquired companies will be retained, as well as their brands. Both companies will also remain under the management of their previous owner, Mr Gamal Fathy.

Both parties declined revealing the value of the acquisition.

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