Trade Pulse | 2014-09-16
World’s largest tourist business to be created by TUI Travel and German Parent

TUI Travel and its German parent company, TUI AG have recently said in a joint statement that their boards have struck a deal for an all-share nil-premium merger, resulting into the world's largest leisure and tourism group worth €6.5 bn on a fully diluted basis, which is approximately $8.42 billion.

 


The proposed deal, which will generate recurring cost savings of at least €45m (£36m) a year through initiatives such as, scrapping the UK headquarters, has received support from TUI AG’s biggest shareholder, Russian steel tycoon Alexey Mordashov.





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