Croatian Telekom and Uniline concluded the sale of E-tours, travel agency within HT Group

Hrvatski Telekom (Reuters: HT.ZA; Bloomberg: HTRA CZ), Croatia's leading telecommunications provider, continues with the strategy of restructuring non-core parts of its business operations. In line therewith, a contract has been signed today with one of the leading tourism companies in Croatia, Uniline Ltd., on transfer and sale of the share held by HT holding Ltd., a company fully owned by HT, in the company E-tours Ltd., one of the leading national travel agencies for foreign and corporate travel.

This transaction enables HT to reduce the complexity of business steering over the non-core part of its business operations. On the other hand, the transaction shall enable E-tours to reach its full potential within Uniline Group, while significantly improving its operational efficiency.

E-tours Ltd., which became a part of HT Group in 2016, generates most of its revenue by selling plane tickets and by organizing corporate travels.

Uniline Ltd. is the leading tourism, i.e., destination management company in Croatia and the region of Southeast Europe with the business headquarters in Pula and offices throughout Croatia, Bosnia and Herzegovina, Slovenia, Serbia, China and South Korea, and with representative offices in Japan, Thailand and South America. The Company has been established in 1996 and has been successfully operating ever since in offering the entire tourist product for individual and group guests.

Closing of the transaction is expected on 31 December 2019.