TUI Group is to take 20% of the shares of Zurich-based Bentour Reisen, which will take a 20% stake in TUI subsidiary Nazar Nordic, based in Malmo in Sweden.
Both companies operate in similar destinations, focusing on Turkiye and Greece, but serve different customers and source markets.
Nazar is an all-inclusive specialist in Northern Europe, while Bentour Reisen is a family-run Swiss tour operator for German-speaking countries.
The agreements for the share swap were signed today, but the transaction is subject to approval by antitrust authorities.
