Mayer Brown has advised the TUI Group ("TUI") on the sale of holiday home and round trip provider Wolters Reisen to the Frankfurt-based travel company e-domizil GmbH. The transaction furthers TUI's strategy to increase its focus on its core business, whilst reducing its dependence on traditional tour operation. The parties have agreed not to disclose the purchase price.
TUI is the world's leading tourism group based in Germany. It covers the entire tourism value chain. This includes over 400 of own hotels and resorts, as well as 18 cruise ships. In addition, TUI operates travel agencies, leading international tour operator brands and airlines with around 150 medium and long-haul aircraft. Wolters Reisen specializes in holiday homes and round trips to Northern Europe.
Besides the transaction-related advice, Mayer Brown's legal advice also covered the tax aspects of the transaction, the operational separation of Wolters Reisen from the TUI Group and the regulation of the future cooperation between TUI and Wolters Reisen following closing.
In close cooperation with Martin Firnhaber of TUI’s legal department, the Mayer Brown team included Dr. Jan Streer (lead) and Dr. Joachim J. Modlich (both Corporate & Securities, both Düsseldorf) ; Corporate & Securities — counsel Dr. Malte Richter, senior associate Tina Hoffmann and associate Anna-Lena Haggeney (all Frankfurt); Tax Transaction & Consulting — partner Volker B. Junge (Frankfurt); Employment & Benefits — counsel Vanessa Klesy (Frankfurt); Real Estate — associate Anja Schwietering (Düsseldorf); and Intellectual Property — counsel Konstantin von Werder and senior associate Dr. Stephanie Pfaff (both Frankfurt).