TUI Group has sold its subsidiary Hapag-Lloyd Cruises to its 50/50 JV with Royal Caribbean Cruises for an EV of €1.2bn (no net debt communicated). It is set to cash in €700m and does not plan to share this with shareholders.
10 Feb 2020
Crystallising Hapag-Lloyd Cruises at €1.2bn in half in-house deal
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Crystallising Hapag-Lloyd Cruises at €1.2bn in half in-house deal
TUI AG (TUI:LON) | 576 -2.9 (-0.1%) | Mkt Cap: 2,922m
- Published:
10 Feb 2020 -
Author:
Yi Zhong -
Pages:
3
TUI Group has sold its subsidiary Hapag-Lloyd Cruises to its 50/50 JV with Royal Caribbean Cruises for an EV of €1.2bn (no net debt communicated). It is set to cash in €700m and does not plan to share this with shareholders.