Grey has advised the founders in connection with the sale of the shares in the online travel organisation Flygstolen Holding AB and its subsidiary Flygstolen Nordic AB to the Dutch company Otravo.
Flygstolen was founded in 2004 in Helsingborg, Sweden and has during the previous years also expanded its operations to Denmark and Norway under the brand Tripmonster. Flygstolen’s turnover has increased from SEK 182 million during 2011 to approximately SEK 1,5 billion during 2015.
Otravo owns the online travel organisations Vliegtickets.nl, WTC.nl and Schipholtickets.nl and is the market leader in the Benelux countries. After the acquisition of Flygstolen, Otravo’s consolidated annual turnover now approaches approximately SEK 4,7 billion.