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.
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.