TUI AG (TUI)
TUI AG: Sale of Hapag-Lloyd Cruises to TUI Cruises completed
08-Jul-2020 / 10:00 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
TUI Group: Sale of Hapag-Lloyd Cruises to TUI Cruises completed
? Successful transfer of Hapag-Lloyd Cruises into TUI Cruises joint
venture
? Completion of the sale as planned in February 2020
Hanover/Hamburg, 8 July 2020: The TUI Group has successfully completed the
sale of its subsidiary Hapag-Lloyd Cruises to TUI Cruises. Hamburg-based TUI
Cruises is a joint venture between TUI and Royal Caribbean Group. The joint
venture TUI Cruises, which has developed very successfully since 2008, will
thus be expanded as planned. TUI had agreed the sale in February. The
enterprise value was estimated at 1.2 billion euros.
All approvals including merger clearance by the EU commission have now been
fulfilled. The transaction is closed in a difficult market environment on
the terms and conditions agreed. The transfer of the individual Hapag-Lloyd
Cruises vessels to the joint venture will be completed in the coming days.
In its new set-up, the Hapag-Lloyd Cruises brand will remain the leading
provider of luxury and expedition cruises in German-speaking markets. The
fleet currently consists of two luxury cruise ships (MS Europa and MS Europa
2) in the 5-star-plus category and three expedition cruise ships. A further
expedition cruise ship is already under construction and will be delivered
in 2021, replacing MS Bremen.
TUI Cruises successfully serves the premium segment in German-speaking
markets with the "Mein Schiff". The "Mein Schiff" fleet currently comprises
seven ships.
ISIN: DE000TUAG000
Category Code: DIS
TIDM: TUI
LEI Code: 529900SL2WSPV293B552
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 74350
EQS News ID: 1087653
End of Announcement EQS News Service
(END) Dow Jones Newswires
July 08, 2020 04:00 ET (08:00 GMT)
