Primera to buy Budget Travel pending EU authority approval

BUDGET Travel has been sold by its German owners in a multi-million euro deal to Icelandic travel firm Primera.

The value of the gross assets disposed of is €46.4 million and the completion of the sale is subject to approval from the EU competition authority.

Budget Travel, the country’s largest travel agency, is part of German travel firm TUI, which recently won conditional permission from the European Commission for a merge of its tourism unit with British-based First Choice.