Abraaj Group says acquires minority stake in Turkish online travel agent

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Reuters

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Thu, 14 Dec 2017 - 04:10 GMT

BY

Reuters

Thu, 14 Dec 2017 - 04:10 GMT

A man prays at the scene of a suicide bombing at Istiklal street, a major shopping and tourist district, in central Istanbul, Turkey March 20, 2016. REUTERS/Osman Orsal

A man prays at the scene of a suicide bombing at Istiklal street, a major shopping and tourist district, in central Istanbul, Turkey March 20, 2016. REUTERS/Osman Orsal

ISTANBUL - 14 December 2017: Abraaj Group, one of the leading investors in growth markets, bought a minority stake in one of Turkey’s leading online travel agents, Biletal, the investor said on Thursday.

The online travel market in Turkey is predicted to grow more than 20 percent annually until 2026, which offers significant growth opportunities for Biletal, Selcuk Yorgancioglu, head of Turkey and Central Asia at the Abraaj Group, said in a written statement.

The investment was made through Abraaj’s Anatolia Growth Capital Fund, which invests in high growth companies in the less developed regions of Turkey.

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