The international team of Eversheds Sutherland assisted in one of the most significant transactions on the Czech tourism market in the last decade. Its lawyers provided comprehensive advice to German company DER Touristik Group of the REWE Group on the acquisition of Czech travel agency CK Fischer from the KKCG Group. The firm's assistance consisted in performing due diligence, negotiating acquisition contractual documentation and other related legal advice.
With the acquisition of CK Fischer, DER Touristik Group, which also owns Exim Tours the second largest travel agency in the Czech Republic and Slovakia, continues to expand in Central Europe. The transaction is still subject to approval by the Office for the Protection of Competition.
"We were honoured to participate in such an important project for an expanding company like DER Touristik and its parent REWE," said Stanislav Servus, partner of the firm. "The acquisition of the traditional CK Fischer brand is one of the most significant transactions in the tourism industry over the past few years. We are glad to have been a part of it."
"Such a significant deal does not happen every day," added principal associate Jiří Kokeš, who led the legal team on the Czech side with the support of other colleagues from the Prague office. "It was an extensive cross-border transaction involving an approximately 20-member international team of Eversheds Sutherland lawyers from the Czech Republic, Germany, Switzerland and the United Kingdom."
DER Touristik Group headquartered in Cologne, Germany, is one of Europe's largest tourism companies, with turnover of EUR 6.7 billion in 2018. Currently, DER Touristik Group employs 10,500 people in 15 countries. Besides Exim Tours, its parent company, REWE, also owns the Billa and Penny supermarket chains in the Czech Republic.
CK Fischer is the largest Czech travel agency with sales of more than CZK 6 billion last year. CK Fischer also includes the NEV DAMA, eTravel and Privileq brands.
Eversheds Sutherland is a Top 15 global law firm. It employs more than 5,000 people over 69 offices in 34 jurisdictions in Europe, the USA, Africa, Asia and the Middles East. www.eversheds-sutherland.com