Herbert Smith Freehills Advised Certares-led Consortium On FTI Group Deal
Herbert Smith Freehills, a prominent international law firm, played a pivotal role in advising their longstanding client
Herbert Smith Freehills Advised Certares-led Consortium On FTI Group Deal
Herbert Smith Freehills, a prominent international law firm, played a pivotal role in advising their longstanding client, Certares, a global investment firm with a laser focus on the travel and hospitality industries. The legal guidance centred around Certares’ consortium-led funding and its proposed acquisition of the FTI Group.
FTI Group, as the third-largest tour operator in Europe (which includes FTI Touristik), has been the subject of significant attention. The investment by Certares, amounting to a substantial €125 million, marks the culmination of a process initiated in September 2023. This process aimed to fortify the capital structure and reconfigure the shareholder base of the FTI Group.
The transaction is subject to customary regulatory approvals and other condition precedents as are typical for transactions of this type.
The legal team at Herbert Smith Freehills, led by corporate partners Malcolm Lombers (based in London) and Christoph Nawroth (based in Germany), orchestrated the intricate legal manoeuvres. Their expertise was complemented by a talented ensemble, including counsels Martyn Jones and Sebastian Schuerer, senior associates Gregor Gordon and Phillip Kablitz, and a team of dedicated associates: Nikesh Arya, Adriel Amoh and Bastian Held and trainees Abi Rayment and Emily Elmitt.
The wider deal team, spanning various legal domains, contributed significantly to the success of this complex endeavour. The team included Steffen Hörner and Tatiana Günster (Tax); Fritz Kleweta and Tim Abendschein (Finance); Marcel Nuys, Lode Van Den Hende, Marius Boewe, Veronica Roberts, Florian Huerkamp, Morris Schonberg, Mirko Gleitsmann, Louis Austin and David Rasche (Competition, Regulation and Trade); and Frank Thompson (Insurance).