Latham and Baker McKenzie advise as Priceline agrees to buy travel search engine for $550m
Booking.com owner Priceline to acquire London-based Momondo later this year
February 09, 2017 at 05:55 AM
2 minute read
Latham & Watkins and Baker McKenzie have secured mandates on Priceline Group's acquisition of London-based travel search engine Momondo Group for $550m (£438m).
US travel giant Priceline is the parent company of discount travel search websites KAYAK and Booking.com.
Momondo (formerly Cheapflights Media) was originally founded in London in 1996 by the former travel editor of Harpers & Queen, John Hatt. It now has additional offices in Copenhagen and Boston.
Latham is representing Momondo with a team led by London corporate partner Robbie McLaren and Boston corporate partner Alex Temel.
The team also comprises London intellectual property partner Gail Crawford, London tax partner Sean Finn, Brussels competition partner Sven Vuelcker, and Washington managing partner and competition partner Mike Egge.
Baker McKenzie is advising Priceline. Its team is being led by corporate partner Charles Whitefoord. Associate general counsel for Priceline, Steve Sonne, is handling the deal in-house.
Danish firm Bech Brunn is also advising on the deal with a team led by corporate partner Jesper Rothe.
The deal is expected to close later this year, subject to regulatory approval.
In 2015, Baker McKenzie advised Priceline on the acquisition of restaurant software company AS Digital.
Previously, Latham secured a role last summer advising private equity houses Onex and Baring Private Equity Asia on their $3.55bn (£2.73bn) acquisition of Thomson Reuters' intellectual property and science business.
Other recent travel deals include the £1.4bn sale of travel price comparison website Skyscanner to CTrip, China's largest travel agency. Pinsent Masons, Skadden Arps Slate Meagher & Flom and Travers Smith advised on the deal.
Pinsents acted for Skyscanner, with Skadden acting as lead adviser for Ctrip. Travers provided advice on employee incentives issues.
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