Sabre completes takeover of Lastminute

Teams from Sabre-owned Travelocity and Lastminute will begin discussing cost savings and product sharing opportunity following the completion of Sabre’s £584 million acquisition of the online retailer.

A detailed evaluation of all aspects of the business will begin immediately with technology high on the agenda.

The deal was completed after the acquisition of shares and redemption of bonds became unconditional. The bonds will be redeemed on August 3.

Lastminute chief executive Brent Hoberman said: “Being part of Travelocity and Sabre Holdings not only gives us global reach but enables us to offer a wide product range to benefit our customers.

“There is also a natural synergy between the two businesses in terms of product and regional expertise.”

Among the early developments will be to offer Travelocity’s 20,000 merchant rate hotels to Lastminute with Lastminute’s European content made available to Travelocity.

Report by Steve Jones