A strategic move, above all TUI Group announced the sale of its platform company, the Hotelbeds Group for €1,191m, to the private equity house Cinven. The disposal was on target by the TUI Group which had already announced a carve-out of the business as part of its FY15 results for strategic reasons (different business models and strategies between the online platform and TUI’s Tourism business). TUI Group will remain focused on hotels and cruise ships while cutting back the online
28 Apr 2016
Disposal of the Hotelbeds Group for €1.2bn
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Disposal of the Hotelbeds Group for €1.2bn
TUI AG (TUI:LON) | 598 140.6 4.1% | Mkt Cap: 3,036m
- Published:
28 Apr 2016 -
Author:
Bérénice Lacroix -
Pages:
2
A strategic move, above all TUI Group announced the sale of its platform company, the Hotelbeds Group for €1,191m, to the private equity house Cinven. The disposal was on target by the TUI Group which had already announced a carve-out of the business as part of its FY15 results for strategic reasons (different business models and strategies between the online platform and TUI’s Tourism business). TUI Group will remain focused on hotels and cruise ships while cutting back the online