TTC advises Wyndham Worldwide Corporation on their sale of European rentals businesses
9 May 2018
TTC supported Wyndham Worldwide Corporation (WWC) in the successful completion of its previously announced sale of its European vacation rentals business to an affiliate of Platinum Equity, LLC, a leading global private equity firm, for approximately $1.3 billion.
The industry-leading European vacation rentals business is the largest manager of holiday rentals in Europe, with more than 110,000 units in over 600 destinations across more than 25 countries. The business operates more than two dozen local brands, including cottages.com, James Villa Holidays, Landal GreenParks, Novasol and Hoseasons.
TTC Director, Martin Alcock said “This was a large and complex corporate carve out transaction requiring consent from a number of European regulatory bodies. We worked collaboratively with the teams from Kirkland & Ellis International and Latham & Watkins to ensure the transaction was structured to ensure we could deliver those regulatory approvals within the very tight completion timetable.
We wish the European management team good luck in their new relationship with Platinum Equity and we look forward to continuing to support them in future.”