EQT named as preferred bidder for Kuoni

The GP emerged as frontrunner following a competitive process and will now enter final negotiations with the company.

Kuoni's board said no final decision had been made at this time, no offer had been officially lodged, and no terms agreed on.

The sales process forms part of an ongoing restructuring at the Swiss-listed travel retailer, which saw it sell its Europe and Asia operating activities last year. Following the sale, the Kuoni Group consists mainly of travel services units.

Kuoni expects to post underlying EBIT of CHF 75m for 2015.

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