Court of Amsterdam rules in favor of Sunweb Group’s decision to terminate the Corendon transaction, fully rejecting the Sellers’ claims

Court of Amsterdam rules in favor of Sunweb Group’s decision to terminate the Corendon transaction, fully rejecting the Sellers’ claims

Today, the Court of Amsterdam has confirmed that Sunweb Group does not have to pursue the acquisition and denied all claims of Corendon.

"We were confident in our legal position and are pleased that today all claims of Corendon have been denied. With the current outcome we can put this case behind us and continue focusing fully on our strategy as an independent company to become the leading digital holiday expert.  All this with the continuous support of our shareholders and lenders”, said Mattijs ten Brink, CEO of Sunweb Group.

 As previously announced, the decision of Sunweb Group not to continue the acquisition of Corendon and to terminate the 'SPA’ in accordance with the conditions, was reviewed by the Court of Amsterdam on 23 November.

Today all claims of Corendon have been denied. The judgment of the court is only a provisional decision. The question whether the conditions for the deal have been met or not will ultimately have to be decided in full legal proceedings on the merits. Sunweb Group is confident about its legal position in such proceedings.

About Sunweb Group

Sunweb Group is one of the largest travel operators in Europe with a turnover in excess of €700 million. The company is the driving force behind several brands operating in seven international markets: The Netherlands, Denmark, Sweden, Belgium, Great Britain, Germany and France. Sunweb is the best-known brand of the group. Sunweb is a leading online operator of package holidays to sun and winter sports destinations.

Sunweb Group employs around 400 people and sends more than 250 tour guides and area managers to various holiday destinations to support its customers. Sunweb Group has a pan-European identity with tour operator operations in Zurich (head office), Rotterdam (back-office), Girona (software and web development) and several offices in Europe. The combination of a centralised organisation, unique self-contracted content and a strong online business model has resulted in more than one million satisfied customers for Sunweb Group each year. Sunweb Group was acquired by Triton Fund V in February 2019.

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Sunweb Group
Martine Langerak
Head of Communications & PR
Phone: +31 6 531 316 04
E-mail: martine.langerak@sunwebgroup.com

PR Agency LEWIS 
Kirsten Spoelstra en Willemijn Albers
Phone: +31 20 220 0220
E-mail: sunwebnl@teamlewis.com

Sunweb Group
Schützengasse 4
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Switzerland