February 11, 2014
Thomas Cook Group plc announces today that it has entered into an agreement to sell Gold Medal, a UK-based distributor of long-haul scheduled flights, hotels and car hire, to dnata, the Dubai-based travel company that is part of the Emirates Group, for total consideration of £45m. The transaction is expected to complete on or about 27 February 2014.
The Latham & Watkins team was led by London corporate partners Nick Cline and Andrew Moyle, assisted by associates Andrew Boyd, Christian McDermott and Brian Meenagh. Advice was provided on tax matters by partner Karl Mah and associate Sinthubiravi Sivakumaran; on employment matters by partner Catherine Drinnan; and on antitrust matters by partner John Colahan.
In 2013 Latham played a leading role for Thomas Cook Group PLC on the company’s £1.6 billion refinancing, acting as lead counsel on both the €525 million underwritten bridge loan and high yield bond placement of the same size and collaborating with Slaughter and May on the accompanying £425 million equity rights issue and £691 million bank re-financing.