Travel bookings company Flight Centre has acquired a 24.1 per cent stake in Argentina's second largest travel group Bibam for $US7 million ($A9.3 million).
The stake buy will give Flight Centre a low risk entry to the South American country and a footprint for further growth across multiple travel sectors, its Americas president Dean Smith said.
Buenos Aires-based Bibam operates the Biblos brand as well as the fast growing e-commerce player Avantrip.com. The business generates total transaction value if $US240 million annually.
