Sunwing Travel Group and First Choice Canada Complete Transaction Creating a Leading Canadian Tour Operator

On January 14, 2010, Sunwing Travel Group and TUI Travel PLC completed a strategic venture with their respective Canadian tour operators and retail divisions. Under the terms of the transaction, TUI Travel PLC contributed its Canadian operations plus $101 million and Sunwing Travel Group contributed Sunwing Vacations. In consideration, TUI Travel PLC received a 25% voting interest and an overall 49% interest in Sunwing Travel Group. The venture saw the amalgamation of Sunwing Vacations, a wholly-owned subsidiary of Sunwing Travel Group, and First Choice Canada’s tour operator Signature Vacations along with retail division SellOffVacations.

Sunwing Travel Group comprises Sunwing Vacations, a highly successful package holiday operator featuring departures from 30 Canadian cities to 31 sun destinations, and Sunwing Airlines. TUI Travel PLC is a leading international leisure travel group which operates in approximately 180 countries worldwide and serves more than 30 million customers in over 25 source markets.

Wildeboer Dellelce LLP acted for Sunwing Travel Group in connection with the transaction with a team that included Perry Dellelce, Rob Wortzman, Peter Simeon, Sanjeev Patel and Luke Sawicki (corporate/securities), Chris Partridge and Lisa Cunningham (debt products) and Kevin Fritz (tax).