euro adhoc: TUI AG
Strategic management decisions
TUI AG Supervisory Board
approved the sale of Hapag-Lloyd AG
-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
12.10.2008
TUI AG Supervisory Board approved the sale of Hapag-Lloyd AG
Hanover, 12 October 2008. At its meeting held today, the Supervisory Board of TUI AG approved the sale of all shares in Hapag-Lloyd AG to a subsidiary of Albert Ballin KG at an enterprise value of 4.45 billion euro. At the same time, the Supervi-sory Board approved the acquisition of a 33.33 per cent entrepreneurial stake in the new company at a purchase price of 700 million euro. The sale is subject to approval by the anti-trust authorities.
The Supervisory Board also approved payment of an appropriate special dividend to the TUI AG shareholders following the completion of the sale. The amount to be distributed for the 2008 financial year will be determined in the framework of the preparation of the annual financial statements.
The Group´s strong liquidity and financial situation resulting from the sale will open up investment opportunities for further expansion of TUI AG´s tourism business. The options explored in this connection also include a takeover of the outstanding shares in TUI Travel PLC.
Some of the information in this press release may contain predictions, expectations or forward-looking statements. These statements may entail known or unknown risks or uncertainties. Actual results and developments may therefore differ materially from the expressed expectations and assumptions. The performance of financial markets, the development of exchange rates, amendments to national and international laws, in particular concerning tax regulations, may also have an impact. Except as provided by law, the Company undertakes no obligation to update forward-looking statements.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Investor relations contact:
Björn Beroleit, phone +49(0)511 566-1310
Nicola Gehrt, phone +49(0)511 566-1435
Group Communications contact:
Uwe Kattwinkel, phone +49(0)511 566-1417
Robin Zimmermann, phone +49(0)511 566-1488
Branche: Transport
ISIN: DE000TUAG000
WKN: TUAG00
Index: MDAX, CDAX, HDAX, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / regulated dealing
Börse Hamburg / regulated dealing
Börse Stuttgart / regulated dealing
Börse Düsseldorf / regulated dealing
Börse Hannover / regulated dealing
Börse München / regulated dealing
Original content of: TUI AG, transmitted by news aktuell