Norwegian to acquire Nordic Leisure Travel Group in €730 million deal
The airline Norwegian has announced an agreement to acquire Nordic Leisure Travel Group (NLTG), a move that will expand its operations into package tours and strengthen its market position in the Nordic travel sector. The acquisition includes the travel agency Tjäreborg and the airline Sunclass Airlines, among other assets.
Norwegian states that the deal will combine NLTG’s expertise in package holidays and hotels with the existing network of Norwegian and Widerøe, which together serve around 27 million passengers annually (Yle). The acquisition is expected to increase the group’s annual revenue by nearly 50 percent (MTV Uutiset).
The purchase price is set at approximately 7.94 billion Swedish kronor, equivalent to around €730 million. The payment structure includes a cash component of roughly 3.5 billion Swedish kronor (€320 million) and 300 million Norwegian consideration shares (MTV Uutiset).
Completion of the transaction is subject to approval from Norwegian’s shareholders' meeting and relevant authorities. No specific timeline for the finalisation of the deal has been disclosed.
