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CRUISE Bremen.jpeg PHOTO: HAPAG-LLOYD CRUISES
Hapag-Lloyd Cruises' Bremen, shown here, will be exiting in 2021 when newbuild Hanseatic Spirit arrives

TUI Group completes sale of Hapag-Lloyd Cruises to TUI Cruises jv with RCL

The TUI Group completed the sale of Hapag-Lloyd Cruises to its TUI Cruises joint venture with the Royal Caribbean Group for an enterprise value estimated at €1.2bn.

This expands their joint venture which has developed successfully since 2008.

All approvals including merger clearance by the EU commission have been fulfilled. The deal, announced in February, closed in a difficult market environment on the terms and conditions agreed, a 50-50 split. The transfer of the individual Hapag-Lloyd Cruises vessels to the joint venture will be completed in the coming days.

Business as usual

In its new setup, Hapag-Lloyd Cruises will continue to provide luxury and expedition cruises to German-speaking markets. The fleet currently consists of the luxury ships Europa and Europa 2 and three expedition cruise vessels, Hanseatic Nature, Hanseatic Inspiration and Bremen.

Expedition newbuild Hanseatic Spirit is scheduled for 2021 delivery, to replace Bremen, which will move to VIVA Cruises to sail as Seaventure.

TUI Cruises also serves the premium segment in German-speaking markets with the seven-ship Mein Schiff fleet.

Further cruise holdings for TUI Group include Marella Cruises in the UK.

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