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TravelSupermarket, Icelolly.com plan joint venture
TravelSupermarket and Icelolly.com are planning a joint venture to combine the two travel comparison businesses.
Both brands would continue under the proposed JV under a new business named Ice Travel Group.
It would be led by Icelolly.com CEO Richard Singer although TravelSupermarket parent MoneySupermarket would have a 62% shareholding.
Icelolly.com owners Palatine Private Equity would hold the remaining shareholding.
The deal is subject to approval from the Competition and Markets Authority.
"The combination of TravelSupermarket and Icelolly.com will benefit customers of both brands with a richer and more diversified offer as the travel and holiday markets recover," said MoneySupermarket CEO Peter Duffy.
Richard Singer said: "We will continue to partner with some of the biggest and best travel companies in the UK and roll out more exciting and innovative services."
TravelSupermarket was founded in 2004 and Leeds based Icelolly.com came along a year later.
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