TUI AG receives information about the owner of its shareholder Unifirm
TUI has been informed about the ownership of Ondero Limited in a new mandatory regulatory notification. Ondero Limited is the majority shareholder of Unfirm Limited, which holds 29.9% of the shares in TUI AG. According to the current notification to TUI and to BaFin, Ms. Marina Mordashova is the controlling shareholder of Ondero Limited.
Already on 4 March 2022, TUI AG had published that Mr. Alexey Mordashov had informed the company about changes in the ownership structure of TUI shareholder Unifirm Limited, which has an impact on the shareholder structure of TUI AG:
- He had informed that Unifirm had transferred 4.1% of its shares in TUI AG to Severgroup. Severgroup is controlled by Mr. Alexey Mordashov. Therefore, these shares are attributed to him. Due to the EU sanctions, Mr. Mordashov has no access to these shares as well as the voting rights and cannot derive any economic benefit from them.
- It was also disclosed that his shareholdings KN-Holding LLC and Rayglow Limited sold their shares held in Unifirm Limited to Ondero Limited on February 28, 2022. Ondero Limited holds 29.9% of the shares in TUI via Unifirm Limited.
At the time of publication of that mandatory announcement, TUI AG was not notified of any controlling shareholders of Ondero Limited. In the new notification corrected by Ondero, the company is informed that Ms. Marina Mordashova was already the controlling shareholder of Ondero Limited at the time of the transfer of the shares on 28 February 2022.
The German Federal Ministry of Economy and Climate Protection also informed TUI on Thursday that it has initiated an investigation procedure under the Foreign Trade and Payments Act against Ondero Limited regarding the effectiveness of the notified transaction. TUI was informed that until the conclusion of these proceedings the transaction is pendingly invalid and the voting rights of Unifirm Limited may not be exercised.
About TUI Group
The TUI Group is one of the world's leading tourism groups and operates worldwide. The Group is headquartered in Germany. TUI shares are listed in the MDAX index of the Frankfurt Stock Exchange and in the regulated market of the Lower Saxony Stock Exchange in Hanover. TUI Group offers its 20 million customers integrated services from a single source and forms the entire tourism value chain under one roof. The Group owns over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 17 cruise ships, ranging from the MS Europa and MS Europa 2 in the luxury class and expedition ships in the HANSEATIC class to the Mein Schiff fleet of TUI Cruises and cruise ships operated by Marella Cruises in the UK. The Group also includes Europe's leading tour operator brands and online marketing platforms, for example for hotel-only or flight-only offers, five airlines with more than 130 modern medium- and long-haul aircraft and around 1,200 travel agencies. In addition to expanding its core business with hotels and cruises via successful joint ventures and activities in vacation destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a global tourism platform company.
Global responsibility for sustainable economic, environmental and social action is at the heart of our corporate culture. With projects in 25 countries, 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. In this way, it supports the development of vacation destinations. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.
