Baker McKenzie advised Global Ports Holding plc on its strategic investment in Dreamlines, a leading online cruise portal based in Hamburg, Germany.
The investment was made through an acquisition facility with a conversion rights in shares and in parallel with the most recent € 45 million Series E round of equity financing. With the secured acquisition financing, Dreamlines secured the successful completion of the takeover of British rival Cruise 1st. The parties agreed not to disclose the purchase price and the amount of the acquisition financing.
"In advising Global Ports Holding on this demanding and complex transaction, we were able to support Dreamlines' successful entry in the UK market as an important part of its global growth strategy in addition to securing the client's strategic goals with this engagement", comments Baker McKenzie's Munich Corporate Partner Berthold A. Hummel.
Global Ports Holding plc is the world's largest cruise port operator with an established presence in the Caribbean, Mediterranean, Asia-Pacific regions and operator of two container ports in Turkey and Montenegro. Global Ports Holding plc, which is listed on the London Stock Exchange, was established in 2004 as an international port operator with a diversified portfolio of cruise and container ports.
Based in Hamburg, Dreamlines is Europe’s leading online travel agency specializing in cruise line related travel. Founded in 2012, the group of companies has more than 400 employees. In addition to its headquarters in Hamburg, the company maintains locations in Nice, Amsterdam, Moscow, São Paulo, Gold Coast and Boca Raton.
Based in Manchester, Cruise 1st is one of leading cruise retails brands in the UK and also has offices in Australia and South East Asia.
Baker McKenzie's Corporate/M&A team regularly advises on domestic and international transactions and financings. Most recently, Baker McKenzie advised Ufenau Capital Partners on the acquisition of the Kruppert Group, financial investors First State Investments and Hermes Investment Management on the acquisition of the shipping company Scandlines, Mundipharma on the sale of its Limburg production, Rexnord on the acquisition of the CENTA Group and LKQ Corporation on the acquisition of the Stahlgruber Group.
Legal advisor to Global Ports Holding:
Lead: Berthold A. Hummel (Corporate, Partner, Munich)
Team: M&A/Corporate: Dr. Katja Heuterkes (Counsel, Munich), Dr. Christoph Dachner (Associate, Munich), Johannes Ahlswede (Law Clerk, Munich), David Hart (Senior Associate, London), Dewi Evans (Associate, London)
Banking & Finance: Dr. Oliver Socher (Partner, Frankfurt), Anouschka Zagorski (Senior Counsel, Frankfurt), Astrit Rexhaj (Associate, Frankfurt)
InHouse Global Ports Holding plc: Ece Gürsoy, General Counsel