McDermott Advises SIGNA on Acquisition of 106 Thomas Cook Travel Agencies for Galeria Karstadt Kaufhof
McDermott Will & Emery has advised Austrian SIGNA Group on the acquisition of 106 Thomas Cook travel agencies with more than 500 employees for its own Galeria Karstadt Kaufhof travel offers. Signa will also take over the Thomas Cook e-commerce platform “Golden Gate”.
The transaction results from successful negotiations with the preliminary insolvency administrators of Thomas Cook GmbH, Thomas Cook Touristik GmbH, Thomas Cook Vertriebs GmbH and Neckermann Urlaubswelt GmbH. Closing of the transaction is subject to the approval of the creditors’ committees and the antitrust authorities.
With the acquisition, Galeria Karstadt Kaufhof doubles the number of sales points in Germany.
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