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TUI disposes remaining stake in Hapag-Lloyd
Tourism group TUI has disposed of its remaining shares in container carrier Hapag-Lloyd, allowing it to raise around $278m from the sale of 8.5m shares.
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The disposal took place in an open market block trade to a guaranteed minimum price close to Monday’s market closing. Prior to this, TUI had already sold 6m shares in individual open market transactions since March 2017.
Horst Baier, TUI group cfo, said: “By disposing of all of its remaining Hapag-Lloyd shares, TUI successfully concludes its non-core business disposal program (…).”
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