Norwegian agrees to buy Nordic Leisure Travel Group for ~SEK7.94bn ($845m), folding Sunclass Airlines into a Nordic travel-servi
Norwegian Group has entered a preliminary agreement to acquire Nordic Leisure Travel Group Holding (NLTG), owner of Denmark-certified Sunclass Airlines and Nordic tour operator brands including Ving, Spies and Tjæreborg, for a total consideration of SEK7.95bn (~$845m). The deal is structured as SEK3.5bn in cash plus the remainder in Norwegian shares.