Freshfields advises Royal Caribbean on $1.3bn expansion of cruise partnership with TUI
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising longstanding client Royal Caribbean Cruises Ltd. (‘Royal Caribbean Cruises’) on the expansion of TUI Cruises, a 50:50 joint venture owned by Royal Caribbean Cruises and TUI Group that was established in 2008. TUI Group has reached an agreement to contribute its 100 per cent subsidiary, Hapag-Lloyd Cruises, into the TUI Cruises joint venture, valuing the brand at $1.3bn. The closing of the transaction is expected in the summer of 2020 and will see TUI Cruises expand into the luxury and expedition cruise segment.
Hapag-Lloyd Cruises is a leading provider of luxury and expedition cruises in German-speaking markets. Its fleet currently consists of two luxury ships within the five star plus category and three expedition cruise ships.
The Freshfields team is being led by partners Valerie Ford Jacob and Natascha Doll, who are being supported by principal associate Olaf Ehlers, and associates Stephen Wilkinson and Sven Bolay.
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