Mayer Brown represented TUI Ventures on the acquisition of a 15,4% stake in peakwork AG. With this transaction, the financial investor is investing in the technology provider for the tourism. The two partners are aiming to establish a global market standard for the distribution of tourism services. The company is planning to attract further investors. The parties have agreed not to disclose the investment price. The investment was facilitated through a capital increase and shares from existing peakwork shareholders.

Peakwork AG, established in 2009, is a software specialist for the travel industry located in Düsseldorf (Germany).

TUI Ventures is the TUI Beteiligungs GmbH based in Hanover, Germany. The company is a 100 per cent subsidiary of TUI AG.

The TUI Ventures inhouse team included Dr. Hilka Schneider (Member of Group Executive Committee, Group Director Legal, Compliance & Board Office) and Mareike Ackermann (Group Corporate Law, M&A).

The Mayer Brown team included partners Dr. Joachim Modlich (lead), Carsten Flasshoff, counsel Dr Jan Streer (all Corporate & Securities, Düsseldorf), Dr. Jens Peter Schmidt (Competition Law, Brussels) as well as senior associate Konstantin von Werder (IP, Frankfurt).