21 June 2019

Change in the shareholder structure of TUI AG

Alexey Mordashov has transferred 65% of his stake in Unifirm, which in turn holds 24.99% of TUI AG shares, to the KN-Holding. The KN-Holding is owned by Kirill Mordashov and Nikita Mordashov, the sons of Alexey Mordashov.

Mr Mordashov has informed TUI that the main aim of the transfer of the stake is succession - an opportunity for Mr Kirill Mordashov and Mr Nikita Mordashov to gain asset management experience and business knowledge. According to him, Mr Mordashov has done a similar transaction several weeks ago with the company Nordgold.

Alexey Mordashov is a long-term shareholder of TUI AG since 2007. He will remain a Member of the Supervisory board of TUI AG.

After the shares have been transferred to the company of Kirill and Nikita Mordashov, TUI AG welcomes the second generation of the family amongst its shareholders.

About TUI Group

The TUI Group is one of the world's leading tourism groups and operates worldwide. The Group is headquartered in Germany. TUI shares are listed in the MDAX index of the Frankfurt Stock Exchange and in the regulated market of the Lower Saxony Stock Exchange in Hanover. TUI Group offers its 19 million customers integrated services from a single source and forms the entire tourism value chain under one roof. The Group owns over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 17 cruise ships, ranging from the MS Europa and MS Europa 2 in the luxury class and expedition ships in the HANSEATIC class to the Mein Schiff fleet of TUI Cruises and cruise ships operated by Marella Cruises in the UK. The Group also includes Europe's leading tour operator brands and online marketing platforms, for example for hotel-only or flight-only offers, five airlines with more than 130 modern medium- and long-haul aircraft and around 1,200 travel agencies. In addition to expanding its core business with hotels and cruises via successful joint ventures and activities in vacation destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a global tourism platform company.  

Global responsibility for sustainable economic, environmental and social action is at the heart of our corporate culture. With projects in 25 countries, the TUI Care Foundation initiated by TUI focuses on the positive effects of tourism, on education and training and on strengthening environmental and social standards. In this way, it supports the development of vacation destinations. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.