Swiss online travel agency Bravofly Rumbo Group has made a binding offer to acquire lastminute.com from the Sabre Corporation for $120 million, according to an announcement on Tuesday.
The deal is expected to close in the first quarter of 2015 pending the completion of employee information and consultation processes.
According to a press release, the potential acquisition of lastminute.com is part of Bravofly Rumbo Group's plans to grow by selecting and integrating valuable assets.
If the offer is accepted, Bravofly Rumbo Group would acquire all of the retailer's principal global operations located in the U.K., France, Germany, Spain and Italy. As a result, the company would attain a projected combined gross travel value of close to €2.5 billion ($3.1 billion) and revenues of over €260 million ($325 million).
The offer comes in the wake of Sabre's August announcement that it was exploring options for lastminute.com in order to support its effort to increase investment in some of its core technology businesses.
Sabre, the largest service provider to the global consumer online travel sector, currently handles more than one-third of the world's travel agency transactions.
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