The Swiss travel firm confirmed the news in a statement.

Kuoni Group has undergone a significant transformation over the last year. It has sold off its tour operating units, which included businesses in the UK, and is now concentrating on other areas such as visa services and B2B accommodation. 

Earlier this month Kuoni revealed it had been approached by a number of parties about buying the company.

“Kuoni Group’s board of directors confirms that EQT has emerged as the preferred party from a competitive process regarding a potential takeover offer for the Kuoni Group and other strategic options,” a statement from Kuoni Group said.

“Final negotiations with EQT for a potential takeover offer for Kuoni Group are in progress. At this stage, no final decisions have been taken and there can be no certainty that an offer will be made, nor as to the terms on which any offer might be made.”

Last November Kuoni Group appointed a new chief executive and announced an extensive restructure of its Global Travel Services division.

Kuoni Travel in the UK is now a separate company having been bought by German co-operative Rewe Group last September.