Freshfields Bruckhaus Deringer advised Spain-headquartered Hotelbeds Group on the sale of its Destination Management division to tourism group TUI, which instructed Allen & Overy.
The deal was valued at €110 million, according to Mergermarket.
The Destination Management division consists of three brands: Destination Services, Intercruises Shoreside & Port Services, and Pacific World. The division has 150 offices worldwide.
Destination Services offers services including tours and transfers to tour operator partners in more than 70 countries and handles around 2.2 million passengers per year.
Intercruises is a ground handling and port agency business specialising in the cruise sector, offering services in 400 ports in around 60 countries.
Pacific World is a conferences and events company operating in more than 30 countries in Asia, Europe, the Middle East, Africa and the Americas. The company handles around 1,300 events per year.