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

TUI Group is one of the world's leading tourism groups and operates worldwide. The Group is headquartered in Germany. TUI shares are listed on the FTSE 250, an index of the London Stock Exchange, on the regulated market of the Hanover Stock Exchange and on the Open Market segment of the Frankfurt Stock Exchange. The TUI Group offers integrated services from a single source for its 27 million customers, 21 million of them in the European national companies.

The entire tourism value chain is covered under one roof. This includes over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 16 cruise ships, from the MS Europa and the 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 Great Britain. The Group also includes leading tour operator brands and online marketing platforms across Europe, five airlines with more than 100 modern medium and long-haul aircraft and over 1,000 travel agencies. In addition to expanding 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. The TUI Care Foundation, initiated by TUI, focuses on the positive effects of tourism, on education and training and on strengthening environmental and social standards with projects in 25 countries. It thus supports holiday destinations in their development.