Sunweb will not take over Corendon after all | Financial

According to Corendon boss Steven van der Heijden, all conditions for the sale have been met. “We are holding them to court on the purchase agreement.” The transaction is said to be worth more than 100 million. Corendon and Sunweb are the second and third travel organizations in the Netherlands after TUI.

Sunweb says it will not continue the acquisition, “precisely in line with the conditions.” The reason, according to CEO Mattijs ten Brink, is that all requirements to complete the transaction could not be met before the deadline.

“We regret making this announcement. Sunweb has invested a lot of time and resources to make this acquisition possible, ”he says. According to him, Sunweb has confidence in the legal procedure.

Corona has a significant impact on the entire travel industry, according to Ten Brink. “With the termination of the agreement, both organizations can fully focus on their own priorities.”

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