MPH Ventures recently announced that Travelucion has acquired an equity interest in a Cuban travel supplier in Havana that has been providing travel services to the island nation for seven years as an independent supplier.
MPH Ventures acquired a 20 percent interest in Travelucion in exchange for common shares of MPH Ventures with an option period of eight months to acquire the remaining 80 percent interest. The agreement is subject to the approval of the TSX Venture Exchange.
This strategic acquisition fortifies the strength of the company at Cuba's travel sector, complementing its online digital media division.
By acquiring equity in this locally licensed agency, Travelucion will gain direct access to exclusive travel services from Cuba's Gaviota Group, one of Cuba's most diverse national travel and leisure corporations.
Due to renewed international interest in Cuba, Travelucion is seeking to further acquire equity in its long-standing service partners. This would vertically integrate the company and streamline joint back office and booking mechanisms using Travelucion's proprietary Cuba-centric platform and software.
A new and larger joint office in the trendy Miramar district of Havana will open Oct. 1.
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