Share Issue/Capital Change • Jul 11, 2017
Share Issue/Capital Change
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11-Jul-2017 / 07:55 CET/CEST Dissemination of a RegulatoryAnnouncement, transmitted by EQS Group AG. The issuer is solely responsible for the content of this announcement.
Hanover, 11.7.2017. Further to its announcement on 10 July 2017, TUIAG has completed the placement of all its remaining 8.5m ordinary shares in Hapag-Lloyd AG1 , raising net proceeds of EUR244.4m. Following settlement of the sale, TUIAG will no longer have any direct or indirect interest in Hapag-Lloyd AG.
Prior to this trade, TUIAG had already disposed of 6.0m shares realizing net proceeds of EUR162.3m in individual open market transactions since March 2017, bringing the total net proceeds realized to EUR406.7m.
As previously outlined in TUI's full year results presentation in December 2016, the total proceeds will be reinvested in the transformation of TUI as the world's leading integrated tourism business, focused on own hotel and cruise brands, and to further strengthen TUI's balance sheet. In this context, TUIAG is contemplating to structure the intended cruise ship acquisitions (currently operated as Mein Schiff 1 and Mein Schiff 2) by TUIUK from TUICruises GmbH (50% JV with RCCL) in 2018 and 2019 as a straight cash transaction.
TUIAG previously accounted for its shareholding in Hapag-Lloyd AG as a financial asset available for sale, with a carrying value of EUR395.0m as at 31 March 2017. The disposals are expected to result in a book profit of approximately EUR172.7m in the financial year ending 30 September 2017.
Through the disposal of its remaining stake in Hapag-Lloyd AG, TUIAG successfully concludes its non-core business disposal program as defined after the merger between TUIAG and TUI Travel plc in December 2014, thereby achieving its strategic objective to transform TUIAG into a pure play vertically integrated tourism group.
1Hapag-Lloyd AG is a global leader in container shipping with earnings before tax of EUR-73.4m for the year ended 31 December 2016 and gross assets of EUR11,206m as at 31 March 2017.
Contact:
Peter Krueger, Director Investor Relations & Special Projects, Tel: +49 (0)511 566 1425
Contacts for Analysts and Investors in UK, Ireland and Americas
Sarah Coomes, Head of Investor Relations, Tel: +44 (0)1293 645 827
Hazel Chung, Investor Relations Manager, Tel: +44 (0)1293 645 823
Contacts for Analysts and Investors in Continental Europe, Middle East and Asia
Nicola Gehrt, Head of Investor Relations, Tel: +49 (0)511 566 1435
Ina Klose, Investor Relations Manager, Tel: +49 (0)511 566 1318
The EQS Distribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg
Language: English Company: TUIAG Karl-Wiechert-Allee 4 30625 Hannover Germany Phone: +49 (0)511 566-1425 Fax: +49 (0)511 566-1096 E-mail: [email protected] Internet: www.tuigroup.com ISIN: DE000TUAG000, DE000TUAG281, DE000TUAG299 WKN: TUAG00 , TUA G28, TUA G29 Listed: Regulated Market in Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Open Market in Frankfurt; London Category Code: DIS TIDM: TUI LEICode: 529900SL2WSPV293B552 OAM Categories: 3.1.Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 4401
End ofAnnouncementEQS News Service
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