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CMS Hasche Sigle advises VR meine Raiffeisenbank eG on the sale of a majority shareholding in the RT / Raiffeisenbank Touristik Group

05/03/2014

Berlin – VR meine Raiffeisenbank eG is selling 74.9% of RT / Raiffeisenbank Touristik Group GmbH to Samih Sawiris. The purchase price has not been disclosed.

A Berlin-based team led by corporate law partner Dr Eva Annett Grigoleit advised VR meine Raiffeisenbank eG on the legal aspects of the transaction.

The RT/Raiffeisen Touristik Group’s tourism network comprises 7,000 travel agencies in Germany, Austria and the Netherlands. It also includes consolidators and tour operators, some of which are wholly owned by RT / Raiffeisen Touristik Group GmbH. This sale enables VR meine Raiffeisenbank eG to comply with banking supervision regulations while at the same time safeguarding its tourism business and protecting the company’s established Bavarian location.

The acquisition allows international resort developer and operator Samih Sawiris to expand his activities in tourism and in conjunction with RT / Raiffeisen Touristik Group GmbH to gain access to a network of German travel agencies and enter the tour operator sector.

CMS Hasche Sigle

Dr Eva Annett Grigoleit, Corporate, M&A
Dr Igor Stenzel, Corporate, M&A
Michael Bauer, Competition

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Publication
Press Release VR Raiffeisenbank, 05/03/2014
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