Tui AG (LON:TUI) has brought in €244.4mln by selling its shareholding in shipping and transport group Hapag-Lloyd.
The sale, of some 8.5mln Hapag Lloyd shares via a placing, followed earlier on market divestments which realised €162.3mln since March - as a result TUI received a total of €406.7mln by selling its stake.
TUI now plans to reinvest the cash into its tourism business, focussing on its own hotel and cruise brands.
The travel company added that it was contemplating transactions, one in 2018 and one in 2019, whereby TUI UK would acquire two cruise ships from the TUI Cruises Gmbh business (a 50% owned joint venture).