The merger would create the second largest tour operator in the Netherlands. ACM recently approved the acquisition, but Sunweb is now pulling the plug from the amalgamation of both companies.
“We regret making this announcement as Sunweb Group has invested significant time and resources to facilitate this transaction. As the requirements of the purchase and sale agreement have not been met for the long stop date, we have completed the transaction. ended “, according to Ten Brink.
“With the termination of the agreement, both organizations can fully focus on their key priorities. In the current crisis, the Sunweb Group, as a responsible digital vacation expert, remains committed to its customers and the commitments made. At the same time, we will continue to improve health and safety of our passengers so that they can enjoy their future vacation worry-free. As an organization, we will use the current period to further accelerate our digital agenda. I am delighted that our lenders and shareholders are behind us to help us through this crisis. help even as the COVID-19 crisis is likely to continue. “
Corendon’s shareholders have contested Sunweb Group’s decision. The case is now being reviewed by the Amsterdam court.
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