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Fri 11 Nov 2009Web travel firm sold for €200m
Dublin-based Web Reservations International (WRI) has been bought by private equity investment firm Hellman and Friedman in a multi-million euro deal.
A figure for the deal has not been disclosed but it is believed to be in excess of €200 million.
The online hostel booking company, which owns Hostelworld.com, generated net revenues of €38 million in 2008 after selling €350 million worth of accommodation.
"This business has been built by the vision of our founders together with the collective talents of a highly driven team at WRI," said chief executive Feargal Mooney.
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