The transaction was subject to a regulatory approval from European anti-trust authorities which was granted on 21 October.
TUI Group is the world's number one integrated tourism group which operates in about 180 destinations worldwide. The broad portfolio gathered under the Group umbrella consists of strong tour operators, 1,800 travel agencies and leading online portals, six airlines with more than 130 aircraft, over 300 hotels, 14 cruise liners and countless incoming agencies in all major holiday destinations around the globe.
Paris-based Transat France is the fourth largest integrated tour operator in France, where it operates under the Vacances Transat and Look Voyages brands.
The multi-disciplinary McDermott team advising on the transaction was led by corporate partners Thibaud Forbin on the M&A aspects and Jacques Buhart on the antitrust aspects, and included antitrust partner Lionel Lesur, employment partner Jilali Maazouz, and counsel Matthieu Adam, Myrtille Lapuelle, Laura Morelli and Julien Naginski.
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