TUI Cruises to Acquire Hapag-Lloyd Cruises
TUI AG announced that has reached an agreement today to contribute its 100% subsidiary Hapag-Lloyd Cruises into TUI Cruises, a 50:50 joint venture owned by TUI AG and Royal Caribbean Cruises, valuing it at 1.2 billion euro on a debt and cash free basis, with an expected net cash consideration of approximately 700 million euro, according to a statement. (cruiseindustrynews.com)
