Santa Fe Group, a Danish relocation service company, has divested its Australian business unit in a management buy-out and its Immigration business to CIBT. The shares in the Australian business unit is sold for AUD 1 and a 5-year franchise agreement made along the deal. CIBT, a passport and visa company, has acquired Santa Fe’s Immigration business for EUR 52m. The Immigration business expects a turnover of EUR 23m and EBIT of EUR 7m in 2018, corresponding to a forward EV/EBIT multiple of 7.4x.
