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TUI raises 244 million euros from sale of remaining Hapag-Lloyd shares
July 11, 2017 / 6:32 AM / 10 days ago

TUI raises 244 million euros from sale of remaining Hapag-Lloyd shares

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The logo of of German travel company TUI AG is seen outside of one of its branch offices in Vienna, Austria, December 27, 2016.Leonhard Foeger

FRANKFURT (Reuters) - Europe's largest tourism group, TUI AG, said it had completed the sale of its remaining shares in container shipper Hapag-Lloyd, raising net proceeds of 244 million euros ($278 million).

Including shares already disposed of, TUI raised a total of 407 million euros and booked a profit of about 173 million euros, it said.

TUI said that it was considering a straight cash transaction for the planned acquisition of two cruise ship operations - Mein Schiff 1 and 2 - by TUI UK from TUI Cruises GmbH in 2018 and 2019.

Reporting by Georgina Prodhan, editing by Louise Heavens

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