Cinven, the London private equity firm, and Canada Pension Plan Investment Board agreed to acquire Hotelbeds Group from Tui Group. The enterprise value of Hotelbeds, the Palma de Mallorca, Spain, travel-services provider, is €1.165 billion, or $1.32 billion. Hotelbeds’ clients include tour operators, travel agencies, corporate clients and consumers. Tui Group is the Hannover, Germany, travel and tourism firm. Jorge Quemada, partner at Cinven, and Shane Feeney, managing director and head of direct private equity at the Canada pension firm, in a statement said Hotelbeds is performing well and has strong growth prospects. Advising on the deal were Bain & Co (commercial); Freshfields (legal); Lazard, Morgan Stanley, HSBC and PricewaterhouseCoopers (m&a); Deloitte (tax) and PwC (financial, labor and IT).