TUI AG: Sale of Hapag-Lloyd Cruises to TUI Cruises completed

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)