AdCE advises TUI on purchase of Cocus

Antas da Cunha Ecija has advised TUI on the purchase of Cocus Portugal, a company which the German travel sector group established a partnership in 2017, to create a Software Development Center in Portugal. Around 150 professionals will be integrated within the scope of this operation. Paulo Grilo, who, over the last 24 years, has held various positions at TUI in the IT and business areas, in several countries, will be responsible for this Digital Innovation Center, based in Matosinhos (Porto). “We are very excited about this integration”, he confesses. “We have a highly qualified and competent team that will certainly be up to the challenge of transforming TUI into one of the largest digital travel and leisure platform companies in the world.”

He adds: “Providing innovative digital products and services to our customers while ensuring high quality standards is our main objective. In this sense, in this initial phase, we will be very committed to strengthening our teams, as we aim to reach 200 employees by the end of 2024”. Paulo Grilo ends by saying: “It is only right to highlight the way in which the entire process took place. The availability demonstrated by both companies, as well as the flexibility and work developed by the team of lawyers at Antas da Cunha ECIJA, with whom we have had a long-standing partnership in the legal field, was absolutely decisive for this operation to be completed successfully and in record time”.

The Antas da Cunha Ecija multidisciplinary team involved in this operation was led by Fernando Antas da Cunha (pictured left) (partner and managing partner), and had the support of Amílcar Silva (pictured right) (partner) and Carolina Meireles (of counsel), as well as with the participation of Lourenço Fernandes Thomaz (senior associate) and Carolina Ribeiro Santos (associate). “For us, it was a true privilege to have had the opportunity to participate in an operation of this relevance, not only for the participants but also for our country,” said Fernando Antas da Cunha. And he added: “Portugal has established itself as an important European Technology Hub and is, increasingly, the country of choice for many companies that intend to open technology centers in Europe. Projects like this are proof that our country is much more than an attractive tourist destination”. Fernando Antas da Cunha concludes: “We wish the TUI Group all the best!”

Michael Heron