Noerr advises on sale of Gesellschaft für Reisevertriebssysteme mbH

Noerr has advised the insolvency administrators of Thomas Cook Touristik GmbH and Thomas Cook GmbH, Ottmar Hermann and Fabio Algari (hww hermann wienberg wilhelm), on the sale of the company Gesellschaft für Reisevertriebssysteme mbH (GfR) to the LEO II. fund, which is advised by the DUBAG Group. This enabled the future of GfR and its workforce of over 500 employees to be secured before the end of the year. GfR is a wholly owned subsidiary of Thomas Cook Touristik GmbH which manages many well-known tourism websites from its offices in Bochum (headquarters) and Berlin, providing services and professional travel customer management. It achieved turnover of €27 million in 2018. The parties have agreed not to disclose the purchase price.

A Noerr team led by Dorothee Prosteder and Florian Becker coordinated the transaction. They previously advised insolvency administrator Julia Kappel-Gnirs (hww) on the sale of Thomas Cook subsidiary Bucher Reisen & ÖGER TOURS GmbH to Turkish travel operator ANEX Tour as well as on the sale of Thomas Cook hotel brand SENTIDO to DER Touristik and Thomas Cook GmbH’s provisional insolvency administrator on the sale of 106 travel agencies and the “Golden Gate” e-commerce platform to Galeria Karstadt Kaufhof.

Advisors to insolvency administrators of Thomas Cook Touristik GmbH / Thomas Cook GmbH: Noerr LLP