CNPLaw LLP advised CitizenPlane SAS on the acquisition of the Travel Technology Interactive Group

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CNPLaw LLP advised CitizenPlane SAS on the acquisition of the Travel Technology Interactive Group


Date Published: 13 February 2024


The team that advised the client: Bill Jamieson , Daniel Ng and Tan Wee Liang




CNPLaw LLP acted as the Singapore counsel for CitizenPlane SAS (“CitizenPlane”) in its acquisition of 97.63% of Travel Technology Interactive (“TTI”), the holding company of the TTI group listed on the Euronext Growth Paris Stock Exchange. The transfer of the shares was carried out on the basis of (i) a unit price per TTI share of €2.34 and (ii) a unit price per TTI BSA of €1.27, with a total valuation of €22.3 million. The acquisition of this controlling block enabled CitizenPlane to exercise a compulsory acquisition mechanism for the remaining 2.37% of TTI shares held by minority shareholders, which will be carried out in the first quarter of 2024.

CitizenPlane helps airlines and tour operators to sell their unsold airplane seats online. This helps to address the airline industry’s inefficiencies by making sure planes take off full. Accordingly, the volume of airplanes that need to take off can be reduced. With the acquisition of the TTI group, the increased synergies between both companies will offer better solutions for airline and tour operators moving forward.

Bill-Jamieson-professional-v2-e1600831550166
Partner

    Bill’s practice focuses on corporate financing transactions, investment funds, mergers and acquisitions, private equity, and employment law matters. His experience includes 10 years in the City of London and over 20 years in Asia. Before joining CNP, Bill was a partner in a well-known international law firm. He is recommended lawyer for Corporate and M&A, Banking and Finance, Investment Funds and Labour and Employment in Legal 500 Asia Pacific 2021. Bill is one of the firm’s contacts for Interlaw, a network of independent full-service corporate law firms ranked by Chambers and Partners in its highest category, “Elite”, amongst all global law firm networks.


    Having handled transactions for numerous local and foreign companies across Asia, extending across a wide range of businesses and industries, we have accumulated significant experience advising on an extensive range of corporate finance transactions.





      Practice Area: Mergers and Acquisitions