Alexey Mordashov has transferred 65% of his stake in Unifirm, which in turn holds 24.99% of TUI AG shares, to the KN-Holding. The KN-Holding is owned by Kirill Mordashov and Nikita Mordashov, the sons of Alexey Mordashov.
Mr Mordashov has informed TUI that the main aim of the transfer of the stake is succession - an opportunity for Mr Kirill Mordashov and Mr Nikita Mordashov to gain asset management experience and business knowledge. According to him, Mr Mordashov has done a similar transaction several weeks ago with the company Nordgold.
Alexey Mordashov is a long-term shareholder of TUI AG since 2007. He will remain a Member of the Supervisory board of TUI AG.
After the shares have been transferred to the company of Kirill and Nikita Mordashov, TUI AG welcomes the second generation of the family amongst its shareholders.