TUI Group has efficiently accomplished the sale of its subsidiary Hapag-Lloyd Cruises to TUI Cruises.
Hamburg-based TUI Cruises is a three way partnership between TUI and Royal Caribbean Group.
The three way partnership TUI Cruises, which has developed very efficiently since 2008, will thus be expanded as deliberate.
TUI had agreed the sale in February.
The enterprise worth was estimated at €1.2 billion.
All approvals together with merger clearance by the EU fee have now been fulfilled.
The transaction is closed in a tough market surroundings on the phrases and situations agreed.
The switch of the person Hapag-Lloyd Cruises vessels to the three way partnership shall be accomplished within the coming days.
In its new set-up, the Hapag-Lloyd Cruises model will stay the main supplier of luxurious and expedition cruises in German-speaking markets.
The fleet presently consists of two luxurious cruise ships (MS Europa and MS Europa 2) within the five-star-plus class and three expedition cruise ships.
An additional expedition cruise ship is already beneath building and shall be delivered in 2021, changing MS Bremen.
TUI Cruises efficiently serves the premium section in German-speaking markets with the Mein Schiff.
The Mein Schiff fleet presently includes seven ships.
