The RAR Group sold the 50% stake it had in Geostar travel agency Sonae, which became its sole shareholder. In a statement, RAR says he decided to concentrate its investments in the most strategic companies and, therefore, also advanced for the purchase of all of the Brazilian operation of Colep.
The RAR was the capital of Geostar seven years ago and the company presented last year a turnover of EUR 154 million business. Has 37 shops and an office in Madrid which become held 100% by Sonae (owner of PUBLIC).
In a statement, Sonae says “continue to explore new ways of development for the company and He believes that GeoStar is uniquely placed to exploit sector consolidation opportunities.
The RAR also announced that advanced to the acquisition of operations in Brazil of Colep, which operates in the sector of packaging of consumer products and has assets of 300 million, about 100 million euros. “The acquisition carried out is part of the strategic line of the company’s internationalization, which fits the strengthening of business in different regions of the globe, particularly in the Americas,” said a note from the company, without any further details. The Colep has three industrial units in Brazil and one in Mexico.
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