PRESS RELEASE
November 20, 2019
Read time: 3 min
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.
The McDermott team advising SIGNA was led by Matthias Kampshoff and Marc Oberhardt in Düsseldorf, and included Sandra Urban-Crell, Ulrich Flege, Jessica Hanke, Christian Krohs and Claus Färber, as well as associates Ulrike Witt, Joana Ney, Catharina Dickhäuser, Sakai Shabo, Johanna Leitzke-Schmid, Heiner Feldhaus, Philipp Schrage, Mara Sonnenberg, Tina Zeller, Josepha Hettich, Colin Winterberg, Carina Kant and Vera Hoff.
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