TUI looking for buyers for Hapag-Lloyd
By William Dove
Font Scale: 
Posted 21 April 2008 @ 08:27 am GMT
TUI AG has said that it will be approaching potential buyers for its Hapag-Lloyd container shipping unit in either late May or early June.
Article Tags 
buyers hapag lloyd tui
Credit crunch hits first-time buyersIn a letter to shareholders the company said, "We have reviewed and selected experienced external advisers to support us," reports Reuters. TUI also said that Deutsche Bank, Citigroup and Greenhill had been chosen as its financial advisors.
TUI added that it had offered John Fredriksen, the Norwegian shipping boss, a place on its supervisory board. Frederiksen currently owns 11.747 per cent of TUI shares and has criticised the company's twin strategy of tourism and container shipping.
This article is copyrighted by the International Business Times.
Most Popular Stories
- 1 Pensions fall short on life expectancy
- 2 Brown hopes Bank can cut interest rates further
- 3 Costly living could kill Europe's consumer revival
- 4 Study: Employers see drink as No. 1 threat to employee wellbeing
- 5 Investors get much of oil firms' cash windfall
- 6 Russia foreign investors unfazed by rows with West
- 7 Putin in control as Russia names cabinet
|
Top Stories on Companies
|
|
