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 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.