27 September 2019
- Alex Cook, Nick Mace, Michal Jašek, Nick Fletcher, Jakub Veselý, Nicola Hemsley
- Prague, Warsaw, London
Clifford Chance advises KKCG on the sale of CK Fischer
Clifford Chance advised the investment group KKCG on the sale of its company CK Fischer to German group REWE, owner of EXIM Tours and Kartago Tours in the Czech Republic and Slovakia. The merger has yet to be approved by the office for the Protection of Competition (ÚOHS).
CK Fischer is one of the leading tour operators on the domestic market. REWE Group, one of the strongest retail and travel companies in Europe, acquired CK Fischer for an undisclosed value. It is considered to be one of the most significant Czech transactions in the tourism sector in the last two decades.
REWE's travel and tourism division DER Touristik is active on fifteen European markets. REWE Group covers strong local brands including EXIM Holding, which operates in the Czech Republic and Poland under the EXIM Tours brand and in Slovakia and Hungary under the Kartago Tours brand. Both CK Fischer and Exim Tours have annual sales in billions of crowns and are among the largest in the Czech Republic.
Clifford Chance team was supervised by Prague office's Managing Partner and co-head of the corporate practice Alex Cook and led by M&A Counsel Michal Jašek who was primarily assisted by Of Counsel Nick Fletcher from the Warsaw office and Associate Jakub Veselý. The team further consisted of Junior Lawyer Tomáš Procházka. Partner Nicholas Mace and Senior Associate Nicola Hemsley from the London office advised on tax.
Martin Chromec, Investment Manager from KKCG, commented on the Clifford Chance performance: "The Clifford Chance team we have been working with is highly competent and knowledgeable. We experience a very professional collaboration based on support and trust, and critical situations were managed in a very sovereign and flexible manner."