German tourism group TUI has finally cashed in its last chips in compatriot container line Hapag-Lloyd, freeing up funds for cruiseship newbuildings.
TUI raised EUR 244m ($278m) from the sale of its last 8.5 million shares in the shipowner, completing an ambition dating back several years.
A spokesperson for TUI told Reuters that combined with a previous sale in March the company has collected EUR 395m for the stock.
