Kuoni Travel Holding Ltd, owned by EQT VII, a fund of

the private equity group EQT, and the Kuoni and Hugentobler Foundation, has

entered into a binding agreement on the sale of its GTD business division (GTA)

to Hotelbeds Group, owned by a consortium led by Cinven und Canada Pension Plan

Investment Board (CPPIB). The shareholders of Kuoni Group will roll-over a

large portion of their participation in GTA into the combined Hotelbeds/GTA

business and upon completion, will hold a substantial minority stake in the

combined Hotelbeds/GTA business. Completion of the transaction is subject to

customary closing conditions, including merger control filings and approvals.

Bär & Karrer acts as lead legal advisor to EQT and

Kuoni Group. The team includes Till Spillmann, Markus Wang, Ivo von Büren,

Andrea Giger, Lars Müller, Pierina Janett and Aileen Kreyden (all M&A) as

well as Jonas Bornhauser (IP), Mani Reinert (Competition Law), Markus Schott

and Raphael Wyss (both Regulatory).

Kuoni Travel Holding Ltd, owned by EQT VII, a fund of

the private equity group EQT, and the Kuoni and Hugentobler Foundation, has

entered into a binding agreement on the sale of its GTD business division (GTA)

to Hotelbeds Group, owned by a consortium led by Cinven und Canada Pension Plan

Investment Board (CPPIB). The shareholders of Kuoni Group will roll-over a

large portion of their participation in GTA into the combined Hotelbeds/GTA

business and upon completion, will hold a substantial minority stake in the

combined Hotelbeds/GTA business. Completion of the transaction is subject to

customary closing conditions, including merger control filings and approvals.

Bär & Karrer acts as lead legal advisor to EQT and

Kuoni Group. The team includes Till Spillmann, Markus Wang, Ivo von Büren,

Andrea Giger, Lars Müller, Pierina Janett and Aileen Kreyden (all M&A) as

well as Jonas Bornhauser (IP), Mani Reinert (Competition Law), Markus Schott

and Raphael Wyss (both Regulatory).