The Abraaj Group a leading investor operating in global growth markets, transfer of 100% of its stake in Peruvian Company Condor Travel, leader in inbound tourism in the Peruvian Market, with offices not only in Peru, but in Argentina, Bolivia, Brasil, Chile and Ecuador, to the international investment funds manager The Carlyle Group.

This constitutes the second exit of The Abraaj Group in Peru and one of the first transactions among international private equity managers in Peru. Also, worth to mention that this transaction is part of a greater transaction under which The Carlyle Group has acquired a majority stake in both Condor Travel and Nuevo Mundo, with the objective of creating a regional hub of tourism.

Condor Travel is leading not only in South America, the Company counts with a tourism division that provides corporate services. The Company has sales representation offices in the United States, Japan, Dubai, Portugal, Australia, Russia and India.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.