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TUI set to sell stake in Hapag-Lloyd

December 16, 2014
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TUI set to sell stake in Hapag-Lloyd

Norcoast will be a 50-50 partnership between Hapag-Lloyd and Norsul

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German tourism company, TUI AG, is looking to sell its remaining 13.9% share of shipping line Hapag-Lloyd and is currently speaking to potential investors.

TUI is also considering the alternative possibility of divesting via the launch of an initial public offering (IPO) by Hapag-Lloyd which may happen in the second half of 2015.

TUI chairman, Klaus Mangold told the Frankfurter Allgemeine Sonntagszeitung that the company would either choose a sale or a flotation, ” whichever comes first at a decent price”.

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Tags: Hapag-LloydsalestakeTUI
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