FRANKFURT (AFX) - German tourism group TUI AG said its new Spanish shareholders will take three seats on its supervisory board.
It said representatives of new shareholders Riu, Caja de Ahorros del Mediterraneo and Grupo de Empresas Matutes will each receive supervisory board positions.
They will replace Thomas Fischer, Norbert Emmerich and Bernd Voss on the board.
In December, Deutsche Bank bought WestLB's 31.3 pct stake in TUI and sold 17.3 pct to a consortium led by the Riu Hotel group. The remaining 14 pct was placed with institutional investors.
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It said representatives of new shareholders Riu, Caja de Ahorros del Mediterraneo and Grupo de Empresas Matutes will each receive supervisory board positions.
They will replace Thomas Fischer, Norbert Emmerich and Bernd Voss on the board.
In December, Deutsche Bank bought WestLB's 31.3 pct stake in TUI and sold 17.3 pct to a consortium led by the Riu Hotel group. The remaining 14 pct was placed with institutional investors.
mb/jlw
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
