TUI AG still eyes IPO or sale of Hapag-Lloyd stake
BERLIN Aug 14 (Reuters) - TUI AG is still open to a sale or flotation of its stake in container shipping company Hapag-Lloyd , its management said on Thursday.
"Whichever comes first at a decent price, we will go for it," Chief Financial Officer Horst Baier told analysts after the group reported third-quarter results.
Hapag-Lloyd is merging with Chilean shipper Vapores . After the closing of the deal, expected in autumn, and a capital increase, in which TUI will not take part, TUI's share of Hapag-Lloyd will fall to 13.9 percent.
TUI has long been looking to exit container shipping in order to focus fully on tourism. (Reporting by Victoria Bryan; Editing by Maria Sheahan)
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