Travel organization Sunweb does not have to take over Corendon. The court in Amsterdam has decided this in summary proceedings.
In 2019, Subweb wanted to take over peer Corendon for 146 million euros. But last year Sunweb decided against the takeover. Corendon would not have complied with all the conditions. According to Corendon, it was different and Sunweb wanted out of the deal because of the corona crisis.
Corendon went to court and demanded in summary proceedings the takeover for the agreed price. The court of law Sunweb was right then. The court is now doing it again.
Soil procedure
The judge thinks that there is indeed a good chance that Sunweb will win a lawsuit on the merits, because it seems that Corendon has not fulfilled certain conditions.
One of those conditions would be confirmation from the Human Environment and Transport Inspectorate (ILT) about the consequences of the acquisition for Corendon’s airline. “In particular, it has remained unclear whether the ILT has confirmed in writing that no new business plan needs to be submitted to it as a result of the acquisition,” the court wrote in a press release. “The correspondence with the ILT leaves too much ambiguity on that point.”
sunweb
“First of all, we are happy that this lawsuit has come to an end and that there is clarity for our employees and the employees of Corendon”, says Mattijs ten Brink, general manager of Sunweb Group. “Finally, we can fully focus on what we love most: making our customers happy with a well-deserved vacation.”
Corendon could not yet be reached for comment.
–
