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CMS advises on the acquisition of Thomas Cook Reisburo Groep B.V. by VR meine Reise GmbH

20/09/2011

Tour company VR meine Reise GmbH has reached an agreement with Thomas Cook Nederland B.V. to take over Thomas Cook Reisburo Groep B.V., which has around 100 travel agencies in the Netherlands. The acquisition is still subject to the approval of the works council.

VR meine Reise GmbH is a 100% subsidiary of VR meine Raiffeisenbank eG, with headquarters in Altötting-Mühldorf. Raiffeisen-Tours-Kooperation ("RTK") also comes under the umbrella of the bank.

CMS assisted VR meine Reise GmbH in this cross-border transaction.

With the acquisition, RTK is continuing its strategy of internationalisation, while Thomas Cook intends to concentrate on its core business as a tour operator.

As the largest travel agency cooperation in Germany, the RTK Group at present comprises around 3,700 travel agencies and reports combined sales of three billion euros.

An international team of CMS advised VR meine Reise GmbH: Dr. Eva Annett Grigoleit and Christian Plodeck from CMS Hasche Sigle en the following persons from our office: Reinout Slot, Christian Delgado, Robert Bosman, Annemarie de Best, Stephanie Dekker, Bart Essink, Ellen Gielen, Steffen Hagen, Annemieke Hazelhoff, Bertine Mouthaan, Simon Sanders, Wouter Seinen, Sebastiaan Sellenraad, Paulus van den Bos, Martijn van der Bie, Kanja van Kranenburg - Hanspians, Wubbo Velvis en ClairWermers.

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