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Tui Travel Share News (TT.)
Share News for Tui Travel (TT.)
| Share Price: 358.50 | Bid: 358.10 | Ask: 358.40 | Change: 0.00 (0.00%) |  | ||||||
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TUI AG set to agree Hapag-Lloyd deal this week
Sun, 12th Feb 2012 11:42
By Jan Schwartz
FRANKFURT, Feb 12 (Reuters) - German travel and logistics group TUI look
A spokesman for the finance authority of the German city state of Hamburg, which is part of the Albert Ballin consortium, said it was quite possible that a deal would be announced on Wednesday, when TUI holds its annual shareholder meeting.
A TUI spokesman said: 'We are in advanced and good talks.'
TUI has for months been inching toward a deal that would keep the world's fifth-biggest container shipper in German hands, as well as being affordable for the city of Hamburg and other consortium members.
The Ballin group of investors, named after the former Hapag boss credited with having invented the cruise, also includes Klaus-Michael Kuehne, the majority owner of Swiss logistics group Kuehne & Nagel.
Sources told Reuters earlier this month that the consortium may buy 20 percent of Hapag-Lloyd. That would be less than expected because TUI has said it wanted to divest most of the 38.4 percent it holds in Hapag-Lloyd.
TUI, which aims to focus on its tourism business, originally tried to sell a majority stake in Hapag-Lloyd in 2008. That attempt was derailed by the global financial crisis, meaning TUI kept a larger stake than it originally intended.
TUI AG controls London-listed tour operator TUI Travel .
(Writing by Ludwig Burger; Editing by Erica Billingham) Keywords: TUI/HAPAGLLOYD
(ludwig.burger@thomsonreuters.com)(+49 69 7565 1311)(Reuters)(Messaging: ludwig.burger.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
By Jan Schwartz
FRANKFURT, Feb 12 (Reuters) - German travel and logistics group TUI look
s set to agree the sale of its stake in container shipping company Hapag-Lloyd to majority shareholder, the Albert Ballin consortium, this week.
A spokesman for the finance authority of the German city state of Hamburg, which is part of the Albert Ballin consortium, said it was quite possible that a deal would be announced on Wednesday, when TUI holds its annual shareholder meeting.
A TUI spokesman said: 'We are in advanced and good talks.'
TUI has for months been inching toward a deal that would keep the world's fifth-biggest container shipper in German hands, as well as being affordable for the city of Hamburg and other consortium members.
The Ballin group of investors, named after the former Hapag boss credited with having invented the cruise, also includes Klaus-Michael Kuehne, the majority owner of Swiss logistics group Kuehne & Nagel.
Sources told Reuters earlier this month that the consortium may buy 20 percent of Hapag-Lloyd. That would be less than expected because TUI has said it wanted to divest most of the 38.4 percent it holds in Hapag-Lloyd.
TUI, which aims to focus on its tourism business, originally tried to sell a majority stake in Hapag-Lloyd in 2008. That attempt was derailed by the global financial crisis, meaning TUI kept a larger stake than it originally intended.
TUI AG controls London-listed tour operator TUI Travel .
(Writing by Ludwig Burger; Editing by Erica Billingham) Keywords: TUI/HAPAGLLOYD
(ludwig.burger@thomsonreuters.com)(+49 69 7565 1311)(Reuters)(Messaging: ludwig.burger.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
UPDATE 2-Thomas Cook flags return to dividends after refinancing
* To raise 425 mln stg via rights issue and placing* Expects to raise 441 mln stg in bond issue* Agrees new 691 mln stg banking facility* H1 pretax lo[16 May '13]
UPDATE 2-TUI AG CEO shakes up group in drive for dividend
* Cuts costs at TUI AG headquarters in Hanover* Underperforming hotels, cruises to be restructured* Sees underlying EBITA of around 1 bln eur by 2014/[15 May '13]
TUI AG CEO says no plans for merger with TUI Travel
FRANKFURT, May 15 (Reuters) - TUI AG has no plans to merge with London-listed unit TUI Travel, the German company's chief executive said on Wednesday.[15 May '13]
TUI AG cuts costs in drive to pay out dividends
FRANKFURT, May 15 (Reuters) - German tourism group TUI AG will cut costs and align its hotels business more closely with that of unit TUI Travel as p[15 May '13]
UPDATE 1-TUI Travel sees strongest summer demand in six years
* Says 58 percent of summer holiday programme sold* Sees full-year profit rising by at least 10 percent* Posts first-half operating loss of 289 mln po[10 May '13]
TUI Travel says strong summer to drive 10 pct profit rise
LONDON, May 10 (Reuters) - TUI Travel, the world's largest tour operator, forecast a full year profit rise of at least 10 percent, driven by strong t[10 May '13]
UK's Thomson Airways to start Dreamliner flights in July
LONDON, April 30 (Reuters) - TUI Travel's Thomson Airways said it would start using its first Boeing Dreamliner on services from Britain to the Unite[30 Apr '13]
Irish firm eyes stake in UK aviation air traffic control
DUBLIN/LONDON, April 19 (Reuters) - Ireland's semi-state air traffic control operator said it had expressed an interest in buying a stake in its Briti[19 Apr '13]
