Completion of Hotelbeds Group disposal

On 28 April 2016, TUI AG announced that it had reached an agreement to dispose Hotelbeds Group to GNVA Acquisitions Limited, a company ultimately owned by funds managed or advised by Cinven and Canada Pension Plan Investment Board, for a total cash consideration of €1,191 million (the “Transaction”). All conditions and regulatory approvals have now been satisfied and the Transaction has completed.