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Germany: Cruise ship firm TUI to wholly acquire UK unit

 |  September 15, 2014

Germany-based hotel and cruise ship operator TUI said Monday it has finalized plans to fully acquire its UK unit TUI Travel, in which it currently holds a majority share, say reports.

The takeover would result in the world’s largest integrated travel business, according to reports, and would be worth about $8.5 billion.

Reports say the combined company would be based in Germany and listed on the London Stock Exchange. TUI currently owns 55 percent of TUI Travel.

Financial details of the takeover plans were not reported.

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