International law firm Gowling WLG has acted for dnata, one of the world’s largest air services providers, on its acquisition of Germany-based tour operator Tropo from ProSiebenSat.1 Group.
dnata provides ground handling, cargo, travel and flight catering services for more than 300 airlines at 130 airports in 84 countries worldwide. The company, an undertaking of Emirates Group, is headquartered in Dubai in the United Arab Emirates and employs more than 41,000 people worldwide.
Tropo is a tour operator for low-cost and high-quality travel packages, which includes hotel reservations with over 200 million daily vacation options. Its destinations include Spain, Turkey, Egypt, Italy, Portugal, Greece and Dubai.
The acquisition, which is subject to approval by the antitrust authorities, also includes TV media volume worth several million euros for 2018 and 2019.
Dr Andreas Woelfle, Gowling WLG Corporate/M&A partner in Stuttgart, led the transaction supported by the newly hired consultants Dr Joerg Heyer and Dr Arnim Powietzka.
Andreas said: “We are delighted to have advised dnata on the acquisition of Tropo. dnata is one of the largest air services providers worldwide and completion of the deal enables the company to accelerate its expansion into the German travel market.”
Iain Andrew, dnata Divisional Senior Vice President, Travel Services, added “We are delighted with this opportunity to have Tropo become part of dnata travel. This acquisition enables us to enter the important and valuable German travel market and enhances our portfolio of travel services in Europe. We see potential for significant synergies between Tropo and our other travel businesses around the world to provide very attractive and unique offerings to inbound and outbound travellers to and from Germany.”
International law firm Gowling WLG’s 180-strong Corporate, Finance and Tax team specialises in delivering high value and complex private equity transactions, mergers and acquisitions and other corporate matters.