Brazil's CVC, a publicly-held company, completed its acquisition of Almundo, a travel agency which has operations in Brazil, Mexico, Argentina, and Colombia, from Iberostar, a global tourism, hotel group, for $77m. With this movement, CVC jumps from having 8% of the market share in Argentina to 16% – becoming the second main player of the segment in the country and getting closer to the leader of the travel market in Argentina, Despegar.com, which has 18% of the market share.