TUI AG

EANS-Adhoc: TUI AG
Extraordinary Supervisory Board meeting of TUI AG

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  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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Financing

03.03.2011

TUI sells 11.33 per cent of Hapag-Lloyd stake to Albert Ballin consortium

General authorisation of the Executive Board for potential IPO of Hapag-Lloyd

Hanover/Hamburg, 3 March 2011. At its extraordinary meeting held today, the Supervisory Board of TUI AG resolved to reduce its stake in Hapag-Lloyd. TUI AG sells 11.33 per cent of its shares in Hapag-Lloyd to the Albert Ballin consortium. These shares have resulted from the conversion of the Hybrid I loan into equity in Hapag-Lloyd as per the end of the year 2010. The consortium thus exercises its option resolved in September 2010. The purchase price for these shares totals 315 million euro. In the event of an IPO of Hapag-Lloyd, the purchase price paid by the Albert Ballin consortium will increase by up to 35 million euro (earn out) if certain conditions are met. The sale of shares is subject to approval by the shareholders´ meeting of Hamburgische Seefahrtsbeteiligung "Albert Ballin" GmbH & Co. KG.

Following the closing of the transaction in May 2011, TUI will hold a 38.4 per cent stake in Hapag-Lloyd representing capital employed of 1.71 billion euro (1.18 billion euro in equity / 530 million euro in loans and hybrid capital).

At today´s meeting, the Supervisory Board also authorised the Executive Board as a matter of principle to sell further shares in Hapag-Lloyd in the framework of an IPO.

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
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Contact:

Investor Relations Kontakt:
Björn Beroleit, Telefon: +49 (0) 511 566 1310
Nicola Gehrt, Telefon: +49 (0) 511 566 1435

Media Kontakt:
Uwe Kattwinkel, Telefon: +49 (0) 511 566 1417
Robin Zimmermann, Telefon: +49 (0) 511 566 1488

Branche: Transport
ISIN: DE000TUAG000
WKN: TUAG00
Index: MDAX, CDAX, HDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / regulated dealing
Hamburg / regulated dealing
Stuttgart / regulated dealing
Düsseldorf / regulated dealing
Hannover / regulated dealing
München / regulated dealing



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