Noerr advises strategic investor on takeover of nicko cruises

The leading European law firm Noerr has advised the Portuguese river cruise and travel agency holding Mystic Invest SGPS, SA on the takeover of the German market leader for river cruises, nicko cruises, Stuttgart. The seller of the insolvent company is the insolvency administrator Michael Pluta.

Mystic Invest acquires the company via nicko cruises Flussreisen GmbH. The newly founded German subsidiary takes over the operational activities and fully continues the business with a German management under the established company brand. The purchaser – which has been working together with nicko cruises via its subsidiary, Douro Azul, for many years – has announced that it will take over the large majority of the nicko staff.

The acquisition takes place with legal effect from 1 November 2015. The parties have agreed not to disclose the purchase price.

In this case Noerr worked together with the Portuguese Lex Mundi partner law firm Morais Leitao Galvao teles Soares da Silva under the lead of corporate partner Carlos Osório de Castro.

Having successfully advised on almost 70 corporate rescues for insolvency administrators and investors since 2009, Noerr is among the market leaders in the field of restructuring and distressed M&A. Most recently, Noerr advised, amongst others, the joint venture Alteri of the finance investor Apollo on the takeover of the mail order company Walz Group.

Advisors to Mystic Invest SGPS, SA: Noerr LLP

Sebastian Voigt, (Dresden), Prof. Dr. Christian Pleister, (Frankfurt/Berlin, both lead, Corporate), Dr. Patrick Mückl (Employment & Pensions Düsseldorf),

Associates: Angela Finkelnburg (Employment & Pensions, Düsseldorf), Dr. Lars Leupolt, (Corporate, Dresden); Katharina Klett (IP Law, Dresden)