Competition watchdog the CMA has cleared the merger between TravelSupermarket and Icelolly.com to create the Ice Travel Group.
Moneysupermarket.com Group today confirmed the “satisfactory completion” of the UK merger control process covering the proposed combination of the two brands.
The deal had been proposed in May in an update to the London Stock Exchange, but was subject to regulatory approval.
“The final condition for completion of the combination has now been met,” the company said in another update to the stock exchange. “The group expects to complete the transaction in early September.”
TravelSupermarket and Icelolly.com between them generated around £30 million in revenue and under £10 million in earnings [ebitda] in pre-pandemic 2019.
“Given the current state of the travel market, we expect Icelolly.com to incur ebitda losses to the end of 2021 but for in-year synergies to broadly offset these,” a statement said.