TUI AG

EANS-Adhoc: TUI AG
TUI resolves to tender 33.3 per cent of Hapag-Lloyd stake to Albert Ballin consortium


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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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Contracts

13.12.2011

With the approval of the Supervisory Board, TUI AG´s Executive Board today
decided to tender a 33.3 per cent stake in Hapag-Lloyd to the Hamburg-based
Albert Ballin consortium. TUI thus uses its contractually agreed exit right to
be exercised by 2 January 2012 at the latest. 

Should an agreement on the value of the stake not be reached in a first phase of
the tender process, the market value will be determined by an auditor acting as
arbitrator, applying the principles of IDW S1 (principles for the appraisal of
enterprises as issued by the German Auditors´ Institute) on the basis of
Hapag-Lloyd´s expected future earning power. Should a sales contract with Albert
Ballin not be drawn up by the end of September 2012 at the latest, TUI will be
entitled to sell the majority in Hapag-Lloyd to third-party investors. In that
case TUI could sell all remaining shares. The Hamburg-based consortium would
then have to sell the required number of Hapag-Lloyd shares to the same investor
at the same price to give the buyer majority control. 

TUI currently holds a stake of around 38.4 per cent in Hapag-Lloyd.


Further inquiry note:
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

end of announcement                               euro adhoc 
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issuer:      TUI AG
             Karl-Wiechert-Allee 4
             D-30625 Hannover
phone:       +49(0)511 566 - 1425
FAX:         +49(0)511 566 - 1096
mail:     investor.relations@tui.com
WWW:      http://www.tui-group.com
sector:      Transport
ISIN:        DE000TUAG000
indexes:     MDAX, CDAX, HDAX, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, regulated dealing:
             Berlin, Hamburg, Stuttgart, Düsseldorf, Hannover, München 
language:   English
 

 

 



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