Pinsent Masons advises DER Touristik UK Limited on acquisition of Journey Latin America Limited
26 Nov 2018 | 11:05 am | 1 min. read
International law firm Pinsent Masons has advised DER Touristik UK Limited on the acquisition of Journey Latin America Limited.
DER Touristik UK Limited, part of REWE-Group an international group of organisations in the trade and tourism sector, and the four current shareholders of Journey Latin America Limited signed an agreement to acquire all shares in Journey Latin America Limited. The deal signed and closed on 31 October 2018.
The Pinsent Masons team was led by corporate partner Dr Michael Prüßner, assisted by Benjamin Schikora, Domenico Schwan, and Dr Julia Traumann in Munich. Amie Norris and Katie Porter were part of a wider UK based team also providing support.
After the takeover of Journey Latin America Limited by DER Touristik UK Limited, the company will retain two of its four existing shareholders. While the two original founders of the company left the company upon signing, the two other sellers will continue to hold senior management positions at Journey Latin America Limited.
Journey Latin America Limited is an independent tour operator specialising in the organisation of tailor-made holiday and group tours to South and Central America. The company is one of the few tour operators to exclusively offer holidays in Latin America. Their offers include custom-made individual journeys, group routes and flights for independent travellers. Journey Latin America Limited’s strategy has been on the expansion of the tailor-made travel business up until now.
Under the DER Touristik group brand, REWE Group's travel and tourism division comprises a large number of tour operators, travel specialists, travel distributors such as travel agency chains, franchise distributors, online portals, destination agencies and hotels. The buyer of the company is DER Touristik UK Limited, a subsidiary of DER Touristik Group, one of the leading tourism companies in Europe with 10,300 employees in 15 countries worldwide. REWE Group's travel and tourism division has a total of 2,400 travel agencies and stores. In 2017, the tourism division achieved invoiced turnover of € 6.5 billion.
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