Berlin – The Raiffeisen Touristik Group (RTG) has sold a majority stake in Explorer Fernreisen of Germany to Diethelm Keller Travel Holding, subject to approval from the competition authorities. Diethelm Keller Travel Holding already owns travel companies Globetrotter Group, STA and Diethelm Travel. RTG, which is headed by Wolfgang Altmüller, is retaining a minority stake in Explorer Fernreisen. The purchase price was not disclosed.
CMS lawyers Dr Eva Annett Grigoleit and Dr Igor Stenzel advised RTG on all legal aspects of the sale. Ms Grigoleit and Mr Stenzel regularly advise RTG on transactions.
Explorer Fernreisen currently has 12 branches in Germany and employs 114 people. The company generated revenues of EUR 65 million in 2016.
CMS Hasche Sigle
Dr Eva Annett Grigoleit, Lead Partner
Dr Igor Stenzel, Counsel, both Corporate/M&A