TUI Cruises to Acquire Hapag-Lloyd Cruises

Hanseatic Nature and Bremen

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. 

With the transaction, TUI and Royal Caribbean Cruises have agreed to further expand their partnership by using the proven joint venture structure of TUI Cruises also for the luxury and expedition cruise segment, according to a statement.

The partnership combines the shipbuilding, operational and digital expertise of Royal Caribbean and the strong brand and distribution power of TUI. 

"Going forward Hapag-Lloyd Cruises will be part of the TUI Cruises joint venture and further support the growth of TUI Group Cruises segment. As we continue with our announced accelerated strategic growth and digital transformation initiatives, we will use the proceeds according to TUI‘s Capital Allocation framework and to strengthen the Group’s balance sheet," said a statement."

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