Hanover, 8 July 2020

TUI Group: Sale of Hapag-Lloyd Cruises to TUI Cruises completed

  • Successful transfer of Hapag-Lloyd Cruises into TUI Cruises joint venture
  • Completion of the sale as planned in February 2020

The TUI Group has successfully completed the sale of its subsidiary Hapag-Lloyd Cruises to TUI Cruises. Hamburg-based TUI Cruises is a joint venture between TUI and Royal Caribbean Group. The joint venture TUI Cruises, which has developed very successfully since 2008, will thus be expanded as planned. TUI had agreed the sale in February. The enterprise value was estimated at 1.2 billion euros.

All approvals including merger clearance by the EU commission have now been fulfilled. The transaction is closed in a difficult market environment on the terms and conditions agreed. The transfer of the individual Hapag-Lloyd Cruises vessels  to the joint venture will be completed in the coming days.

In its new set-up, the Hapag-Lloyd Cruises brand will remain the leading provider of luxury and expedition cruises in German-speaking markets. The fleet currently consists of two luxury cruise ships (MS Europa and MS Europa 2) in the 5-star-plus category and three expedition cruise ships. A further expedition cruise ship is already under construction and will be delivered in 2021, replacing MS Bremen.

TUI Cruises successfully serves the premium segment in German-speaking markets with the “Mein Schiff”. The “Mein Schiff” fleet currently comprises seven ships.

About TUI Group

The TUI Group is the world's leading tourism group and operates worldwide. The Group is headquartered in Germany. The TUI share is listed on the FTSE 250, the leading index of the London Stock Exchange, and on the Regulated Unofficial Market in Germany.

The TUI Group offers integrated services from a single source for its 28 million customers, 21 million of whom are in the European national companies. The entire tourism value chain is represented under one roof. This includes over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 15 cruise ships, from the MS Europa and MS Europa 2 in the luxury class and expedition ships to the Mein Schiff fleet of TUI Cruises and cruise ships at Marella Cruises in England. The Group also includes Europe's leading tour operator brands and online marketing platforms, five airlines with more than 100 modern medium and long-haul aircraft and over 1,000 travel agencies. Besides the expansion of its core business with hotels, cruises via successful joint ventures and activities in holiday destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a digital company.

Global responsibility for sustainable economic, ecological and social action is at the core of our corporate culture. With projects in 25 countries, the TUI Care Foundation initiated by TUI focuses on the positive effects of tourism, education and training and the strengthening of environmental and social standards. It thus supports the development of holiday destinations. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.