ALRUD Corporate and M&A team, led by Partner Alexander Zharskiy, successfully represented one of the leading travel companies – Thomas Cook Group – in its entering the Russian travel market.
On November, 25 Thomas Cook Group plc announced that it has reached agreement to form a joint venture with VAO Intourist, one of Russia's most renowned travel companies, in which Thomas Cook will acquire a 50.1% stake. The joint venture will include Intourist's outbound, domestic and inbound tour operating operations as well as its retail travel network and will focus on expansion in Russia and the other CIS countries.
The joint venture is conditional upon anti-trust clearance in Russia and certain other conditions and is expected to complete in or before February 2011.
November 29, 2010