ADNEC to acquire Karavel Promovacances from Equistone Partners.

ADNEC, the international business and leisure tourism group, agreed to acquire Karavel Promovacances, a French tourism group, from Equistone Partners, a mid-market private equity investor. Financial terms were not disclosed. This acquisition reflects the active deployment of ADNEC Group’s strategy to geographically diversify its core sectors. It will strengthen the group's international expansion while enhancing Karavel’s growth and expansion into new markets and provide access to ADNEC Group’s portfolio of assets and expertise in the tourism sector. This strategic move will also support the tourism vision of Abu Dhabi to promote the emirate as a global destination for cultural, leisure, and business tourism.