Herbert Smith Freehills advises Certares-led consortium on acquiring financial liabilities of FTI Group

Leading international law firm Herbert Smith Freehills has advised Certares, a global investment firm focused exclusively on the travel and hospitality sector, on signing a definitive documentation for the acquisition of financial liabilities of the FTI Group, including loans and other support programmes.

The Consortium led by Certares already signed an Investment Agreement on 15 April 2024, advised by Herbert Smith Freehills as well. Together with the contribution of new equity capital from the Consortium totalling €125 million, the new transaction is meant to enable a comprehensive reorganisation of FTI. 

The transaction is subject to customary regulatory approvals and other conditions. 

The Herbert Smith Freehills team was led by corporate partner Christoph Nawroth and comprised partners Malcolm Lombers, Steffen Hörner and Fritz Kleweta, counsel Sebastian Schürer as well as associates Phillip Kablitz, Bastian Held, Tatiana Günster, Eva Jürgens, Tim Abendschein, Marc Soltau, and Justus ter Veen.