Kuoni Reisen Holding will buy online travel service operator, Gullivers Travel Associates, The Wall Street Journal reports. The Swiss travel group will pay $720 million to New York-based Travelport for the acquisition. The Zurich-based company intends to finance its acquisition with a $269 million rights issue and bank lines. Credit Suisse is acting as Kuoni Reisen’s financial adviser on the deal and is also managing the planned capital increase, adds Bloomberg.

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