Hengeler Mueller advises TUI AG on sale of further Hapag-Lloyd shares and termination of existing hybrid-financing

15. February 2012

TUI AG will reduce its stake in Hapag-Lloyd Holding AG, after approval by the shareholders of the “Albert Ballin”-consortium, to around 22%. In addition, TUI AG will terminate the hybrid-financing it had provided to Hapag-Lloyd.

TUI AG will record a cash inflow of EUR 700 m in total. In addition, TUI AG will have the right to trigger a potential IPO of Hapag-Lloyd with priority placement of shares held by TUI AG, or to sell its remaining shares to third parties.

Hengeler Mueller advised TUI AG on this transaction. The Hengeler Mueller team included partners Hans-Jörg Ziegenhain (Corporate/M&A) and Martin Klein (Tax) as well as associates Simon Patrick Link, Daniel Halmer und Alexander Ego.