DLA Piper advised the private equity fund EQT VII and its portfolio company Kuoni GTA on the acquisition of the hotel distribution and destination management provider MTS Globe. The transaction was signed on 9 September 2016. The parties have agreed to keep the purchase price and contract details confidential. The transaction is subject to the approval by the relevant competition authorities.
MTS Globe, Europe's largest independent incoming agency, as well as OTS Globe, the firm's hotel trading division, will continue to operate under their own brands and management. MTS Globe has long held a strong presence in sun and beach destinations and is the preferred partner for many European tour operators. Its successful and unique business model offers 12,000 hotels and customised destination services. In 2015, MTS Globe generated gross sales of EUR 500 million.
Kuoni GTA is an industry pioneer and a highly experienced, leading global distributor that provides travel companies with easy access to hotel accommodation and destination services. It sells approximately 40,000 room nights per day online.
EQT is a leading global group of private equity funds with operations in Europe, the United States, and China, with approximately EUR 30 billion in raised capital from over 300 global institutional and professional investors.
The international DLA Piper team was led by partner Dominik Stühler and counsel Dr Kai Terstiege and consisted of senior associate Silvio McMiken as well as associates Tobias Hoppe und Angélique Schraud (all Corporate, Munich), partner Dr Konrad Rohde (Tax, Frankfurt) and counsel Dr Christoph Imschweiler (Tax, Munich), partner Dr Thilo von Bodungen (IPT, Munich), counsels Dr Fabian Klein (IPT, Frankfurt) and Susanne Weckbach as well as associates Olga Blaszczyk and Kristin Hermann (all IPT, Munich), partner Dr Michael Holzhäuser (Antitrust, Frankfurt), and counsel Robert Hofbauer (Finance, Frankfurt). In addition, teams in other international offices of DLA Piper advised on respective local law aspects.
