Freedom Holding to acquire Aviata, Chocotravel from Chocofamily for $32.3M

Freedom Holding has entered into an agreement to acquire the Aviata and Chocotravel service platforms from Chocofamily Holding, the company announced. The acquisition, which is subject to certain conditions, is expected to close before the end of the year. Aviata/Chocotravel is one of the largest online travel agencies in Kazakhstan. The purchase price is $32.3M. Freedom noted that there is a positive trend in air and rail travel in Kazakhstan, both for domestic and international destinations. During 2022, airlines in Kazakhstan flew 11M passengers, a record number for the country, which is 17% higher than 2021.