Javier Garcia del Valle, the CEO of the biggest travel agency onthe Romanian market, Happy Tour, controlled by Spain's GEDinvestment fund, plans to expand the company's operations toBulgaria, Hungary, Serbia, after strengthening the company throughthe acquisition of the biggest online plane ticket online agency,Paravion, and of Travel House agency. "The takeover of the twocompanies was the first development stage for Happy Tour. Thesecond stage of our strategy entails expansion abroad (...),"stated the CEO of Happy Tour, a company with 29m-euro turnover lastyear. GED, which took over Happy Tour in late 2007, at that momentannounced it would invest 15m euros in the company and theacquisition of other travel operators in 2008-2011. According toGarcia, the two acquired companies will keep their names andoperate independently of Happy Tour, but their businesses willcomplement Happy Tour's. "The group formed by putting the threecompanies together will become the biggest travel operator in thecountry on corporate services, online, travel programmes and theconference, meeting, event segment. Some new opportunities haveemerged on the market. I'll try to maximise created synergies anddrive the group with 135 employees to 70-80m euros," Garciasaid.
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