On 7 December, the Amsterdam District Court ruled that it will not compel Sunweb Group to continue the acquisition of Corendon and that all claims of Corendon have been rejected.
“We had confidence in our legal position and are delighted that all of Corendon’s claims have been rejected. With the current ruling, we can leave this matter behind. We are now focusing on managing the crisis and realising our ambition to become the leading ‘digital holiday expert’ as an independent organisation. We are pleased with the continued support of our shareholders and financiers,” said Mattijs ten Brink, CEO of Sunweb Group.
As previously announced, Sunweb Group’s decision not to proceed with the acquisition of Corendon and to terminate the “SPA” in accordance with the terms was submitted to the Amsterdam District Court on November 23, 2020.
The court decision is only a preliminary decision. The question whether the terms of the agreement have been met will ultimately have to be assessed in full legal proceedings. Sunweb Group is confident in its legal position in such proceedings.
Rotterdam, December 7, 2020