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Friedrich Joussen News

10 Dec 2014

TUI AG Eyes Timing on Hapag-Lloyd IPO

BERLIN, Dec 10 (Reuters) - TUI AG is optimistic it will be able to sell its stake in Hapag-Lloyd via an initial public offering of the shipping company, although the market environment is not the best at present, its chief executive said on Wednesday. Hapag-Lloyd is merging with Chilean peer Compania Sud Americana de Vapores but said last week an IPO was not a top priority. "Their motivation to float is huge," TUI AG CEO Friedrich Joussen said on Wednesday after the group reported annual results. Hapag-Lloyd has said it will consider adding mega container ships to its fleet to boost competitiveness. TUI AG owns a 22 percent stake in Hapag-Lloyd, which is classed as 'held for sale'. TUI values it in its books at 467 million euros ($578.75 million), which Joussen described as 'conservative'.

05 Aug 2014

TUI Cruises Expands to Six Ships by 2017

TUI AG and Royal Caribbean Cruises are substantiating their expansions plans for their joint venture TUI Cruises. The Mein Schiff fleet shall grow from now three to six ships and then 14,000 beds by 2017. TUI Cruises is strengthening its already sound and dynamic position in the German cruise market. Both the Boards of TUI AG and Royal Caribbean Cruises have decided to order the two newbuilds. The Mein Schiff 4 is currently being built and with the now decided new orders of Mein Schiff 5 and Mein Schiff 6 TUI AG and Royal Caribbean Cruises are investing in touristic growth markets. The parent companies of Hamburg-based TUI Cruises expect a sustained high demand in the cruise sector and therefore, in good time, came to the decision to expand further.

04 Aug 2014

TUI Cruises Orders Two Ships, Cruise Demand Up

TUI Cruises, a unit of TUI AG , is ordering two more cruise ships for its Cruises unit to reflect high demand for cruise holidays in Germany and Europe. The new ships will be delivered in 2016 and 2017 and will take the fleet of TUI Cruises to six ships, the company said on Monday. TUI Cruises, a joint venture between TUI AG and Royal Caribbean Cruises, currently operates 3 cruise ships, with a fourth being built. TUI AG, which is currently in merger talks with London-listed unit TUI Travel Plc, had said in May it wanted to expand its cruise operations. "In Germany and in Europe the interest in cruises is increasing," TUI CEO Friedrich Joussen said in a statement on Monday. Reporting by Victoria Bryan

25 Jun 2014

TUI CEO Steps Aside from Charitiable Foundation Chair

Thomas Ellerbeck, member of the Management Board of the Germany-based travel and cruise ship firm TUI AG, has been appointed by the Group’s Executive Board to take over this mandate from Friedrich Joussen, who is CEO of TUI AG. (With Hapag-Lloyd Kreuzfahrten and TUI Cruises, TUI AG’s portfolio has two brands in its portfolia offering maritime holidays. It is also in a joint venture with Royal Caribbean Cruises Ltd. which offers cruises for the German-speaking market aboard the cruise ship Mein Schiff 1). TUI explain that Ellerbeck is the company’s Management Board member in charge of Corporate & External Affairs, including Politics, International Relations, Group Communications, CR and Sustainable Development, the TUI Foundation and the Trademarks, Patents and Licenses Department.