Simpson Thacher represents Despegar in Best Day acquisition
Simpson Thacher is representing Despegar.com in connection with its acquisition of Best Day Travel Group for approximately $136 million.
A portion of the purchase price is payable on a deferred basis and includes a variable component based on future performance. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close during the first half of 2020.
Despegar is the leading online travel company in Latin America, operating across 20 countries in the region. Despegar’s websites and leading mobile apps offer products from over 270 airlines, more than 512,000 accommodation options, approximately 1,190 car rental agencies, approximately 326 destination services suppliers, and encompass more than 5,690 activities throughout Latin America.
Despegar owns and operates two brands––Despegar, its global brand, and Decolar, its Brazilian brand.
Simpson Thacher also represented Despegar in its 2017 initial public offering on the New York Stock Exchange.
Best Day is one of the leading travel agencies in Mexico, offering consumer sales online and through call centers and over 200 kiosks, as well as ground transportation, tours and activities across Mexico. Best Day also offers business-to-business travel products.
The Simpson Thacher team included S. Todd Crider (ictured), Juan F. Méndez, Joshua Bernard and Claudia Calderón (M&A, Latin America); Robert Holo and Jasmine Hay (tax); and Marcela Robledo (intellectual property).
