On March 19, 2007, TUI AG, Europe's leading tourism company, which is also active in the shipping and logistics business, announced that it was to merge its tourism division with British travel operator First Choice Holidays PLC. As a result, the business of First Choice and the largest section of TUI AG's tourism activities are to be combined to form a new public company named TUI Travel PLC, which will be listed on the London Stock Exchange. With 51 percent of the shares, TUI will hold a majority stake in the new company. The transaction remains subject to approval by the shareholders of First Choice, and to clearance by the competent competition authorities.
WilmerHale Berlin lawyers are advising TUI on the merger with First Choice with regard to German corporate and securities law, and - in collaboration with law firm O'Melveny & Myers - on matters of competition law and merger control.
The WilmerHale team on Corporate and securities law includes Dr. Roland Steinmeyer, Dr. Matthias Santelmann and Florian Steinhardt; and Antitrust and competition law/merger control includes Ulrich Quack, Markus Hutschneider and Christian Wörz.
WilmerHale has been advising TUI for a number of years on matters relating to antitrust and competition law/merger control and, more recently, has also been assisting it with regard to corporate and securities law. One example includes the takeover of the British-Canadian container shipping company CP Ships.