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Here is a list of the important dates you should be aware of in 2022.
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Change of control services
Buying or selling a travel business can be exhilarating. For some, it’s the culmination of a lifetime’s work. For others, it’s the first step on their journey through the industry. Of course, there are many things to consider when buying or selling a travel business, but don’t forget about regulatory approval.
Permission to change
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Regulatory bodies such as ATOL, ABTA and IATA include change of control provisions in their licensing terms, meaning you may need their permission before you complete a transaction.
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Depending on the circumstances of your transaction, the change of control process could be rigorous and in-depth.
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Before providing formal consent for a change of control, the regulators may want to assess any new shareholders and directors and review the post-transaction financial structure. They may even want to see the legal documentation such as the sale and purchase agreement, and loan facility agreement.
Work with a friendly team of experts.
We have been helping travel businesses prepare their change of ownership documents for over 15 years. We will take on the hard work by:
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Assessing your planned transaction and providing guidance on the likely change of control requirements.
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Supporting you through the due diligence phase by answering any specific regulatory queries.
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Preparing and collating change of control documentation.
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Negotiating with the regulators to agree the terms of their consent.
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Executing the change, including arranging security where necessary.
What clients think of our regulatory work
We’ve worked with a wide range of clients over the years, from household names to brand new start-ups.
Here are what some of them had to say about our regulatory services.
"Thanks to TTC for assisting us with the regulatory clearances on the deal. We’ve worked with Martin and the team for many years now and you can really rely on them to deliver when it counts. Their experience of working on lots of transactions in the travel sector helped at all stages in the process from early negotiations all the way through to closing which helped us to get the deal done and in-line with the required timeline."
Matt Quinlisk
FD at DER Touristik UK
"We asked TTC to help us secure an ATOL licence to launch Trip.com in the UK market. Simon and the team have been fundamental in getting the licence approved. Working with them is like having an extended team member we can call on at any time."
James Spalding
Regional Director – Northern Europe & Russia at Trip.com
"Knowing that the TTC team are finance experts who also have a deep understanding of the travel industry is the reason we have remained a client for so long. We are delighted with the day-to-day finance work and long-term strategic planning they have carried out for us."
David Holland
Director at African Pride
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