TUI Cruises GmbH’s US$ 1.3 Billion Acquisition Of Hapag-Lloyd Cruises From TUI AG


Watson Farley & Williams has advised TUI Cruises GmbH on its acquisition.

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in summer 2020. The deal includes the acquisition of HL Cruises’ luxury and expedition fleet, consisting of two five-star plus luxury vessels and three expedition cruise ships, by TUI Cruises. This expands TUI Cruises’ existing fleet to twelve cruise ships, which will enable it to participate in the growth of the cruise industry as the demand for luxury and expedition cruises is expected to increase.

TUI Cruises was established in April 2008 as a joint venture between TUI AG and Royal Caribbean Cruises Ltd. Based in Hamburg, the company combines both expertise in the tourism and cruise industries. HL Cruises, a subsidiary of TUI AG’s cruise business, is the leading company for luxury and expedition cruises in German-speaking countries.

The cross-border WFW team was led by Hamburg Maritime Partner Dr Christian Finnern (Picture) working closely with Tax Partner Gerrit Bartsch, Corporate Partners Dr Björn-Axel Dißars and Dr Christian Ulrich Wolf as well as Employment Partner Dr Andreas Wiegreffe, with support from Of Counsel Torge Rademacher and Managing Associates Carolin Woggon and Dr Malte von Seht (all Corporate) and Associates Julia König, Dr Frank Wacht, Dr Niklas Wiechmann (all Maritime), as well as Sebastian Olbertz, Muteber Yalcin and Paul Philipp Greef (all Corporate). Associate Verena Weider advised on tax law issues of the transaction and Senior Associate Nora Fleischhauer handled employment law aspects. Frankfurt Partner Dr. Sebastian Wulff advised on debt capital markets issues.

In London, the Finance team was led by Maritime Partner Lucy Shtenko supported by Partner David Osborne, Senior Associate Richard Smith and Associates Konstantina Kyprianidou and Alex Clark all advising on the financial aspects while Partner Robert Platt handled contractual issues and Partner Jeremy Robinson and Associate Pierre Welch assisted on competition law matters.

Involved fees earner: Gerrit Bartsch – Watson Farley & Williams; Alex Clark – Watson Farley & Williams; Björn-Axel Dißars – Watson Farley & Williams; Christian Finnern – Watson Farley & Williams; Nora Fleischhauer – Watson Farley & Williams; Paul Philipp Greef – Watson Farley & Williams; Julia König – Watson Farley & Williams; Konstantina Kyprianidou – Watson Farley & Williams; Sebastian Olbertz – Watson Farley & Williams; David Osborne – Watson Farley & Williams; Robert Platt – Watson Farley & Williams; Torge Rademacher – Watson Farley & Williams; Jeremy Robinson – Watson Farley & Williams; Lucy Shtenko – Watson Farley & Williams; Richard Smith – Watson Farley & Williams; Malte von Seht – Watson Farley & Williams; Frank Wacht – Watson Farley & Williams; Verena Weider – Watson Farley & Williams; Pierre Welch – Watson Farley & Williams; Niklas Wiechmann – Watson Farley & Williams; Andreas Wiegreffe – Watson Farley & Williams; Carolin Woggon – Watson Farley & Williams; Christian Ulrich Wolf – Watson Farley & Williams; Sebastian Wulff – Watson Farley & Williams; Muteber Yalcin – Watson Farley & Williams;

Law Firms: Watson Farley & Williams;

Clients: TUI Cruises GmbH;