White & Case has advised the Polish Aviation Group, which owns LOT Polish Airlines, on the acquisition of Germany's Condor Flugdienst GmbH. The sellers, UK's Thomas Cook, were advised by Noerr.
According to White & Case, “the acquisition, which was preceded by a bidding process in which PGL prevailed over several financial investors, is expected to close by April 2020 once customary antitrust approvals are obtained and Condor exits the protective shield proceedings. The parties have agreed not to disclose the value of the transaction.”
PGL is an aviation company in Central & Eastern Europe. In 2019, LOT carried more than ten million passengers and generated revenue of EUR 1.9 billion. Condor carries around 9.4 million passengers per year. In the 2018/19 financial year, it generated an operating profit of around EUR 57 million and sales of around EUR 1.7 billion.
The White & Case team in Warsaw included Local Partner Maciej Zalewski and Partner Marcin Studniarek. Its team in Frankfurt included Partners Matthias Kasch, Stefan Bressler, and Andreas Kleinschmidt, Local Partner Michael Leicht, Counsel Christian Bock, and Associates Agmal Bahrami and Micha Gersdorf, while its Hamburg-based team included Partners Sven-Holger Undritz, Florian Degenhardt, Hendrik Roger, Justus Herrlinger, and Martin Munz, Local Partner Bela Knof, and Associates Tobias Zundorf, Carola Boeckmann, and Louisa Maier-Witt. The firm’s Brussels-based team included Partner Katarzyna Czapracka. Its team in Berlin consisted of Counsels Katrin Helle and Anna Burghardt, and its team in London included Counsel David Wright.
Noerr's Germany-based team included Partners Thomas Hoffmann, Marlies Raschke, Till Kosche, Helge Heinrich, Andreas Naujoks, Torsten Wehrhahn, Tobias Dolde, and Hans-Christoph Schimmelpfennig, Associated Partners Sarah Blazek, Torsten Kraul, Simone Schoenen, Ethel Nanaeva, and Benjamin Jahn, Counsel Emma Lenze, and Associates Andrea Braun, Eike Hofmann, Kenny Koa, Dorian Legel, Daniel Dommermuth-Alhauser, and Michael Wilhelm Weber.
