Webster Dyrud Mitchell involved in multimillion dollar international travel industry dealWebster Dyrud Mitchell involved in multimillion dollar international travel industry deal

Webster Dyrud Mitchell, a leading law firm in Anguilla, British West Indies, played a significant role in the sale of Quark Expeditions and its associated company Supernova Expeditions, the only operator offering ice-breaker trips designed specifically to navigate through ice sheets in the Polar Regions, to the UK-based First Choice Holidays PLC, the market leader in activity adventure holidays and probably, as a result of recent acquisitions, the largest tour operator in the world. Quark Expeditions has joined First Choice's Activity Holidays Sector, a growing international collection of adventure travel businesses.

The $19 million+ deal was truly international and managing it was challenging, owing to parties being based in multiple time zones, including the UK, the United States, Canada, Anguilla, Russia and Austria. It is therefore a tribute to all the professionals involved that the deal was concluded smoothly and successfully.

In a trading update, First Choice, headquartered in the UK, said polar expedition cruising is a fast-growing segment of the leisure travel market with strong growth prospects. The group is hoping the deal will help it tap into the growing market for holidays in the polar region and that it will drive up profit margins. After the transaction was announced on 1st May 2007 First Choice’s price was up 7.18%.