TUI AG successfully secures stabilization funding of Euro 1.2 billion from German government
In October 2020, a comprehensive review and analysis of TUI Group’s application was carried out by Lincoln International and Oliver Wyman for this financing package, which consisted of an increase of the existing KfW tranche by Euro 1.05 billion and a convertible bond of Euro 150 million.
The Economic Stabilization Fund (WSF) serves to stabilize German companies from across the real economy which have been facing difficulties as a result of the COVID-19 pandemic with a total volume of Euro 600 billion, of which Euro 400 billion has been earmarked for the purpose of insuring liabilities by means of federal guarantees. Up to Euro 100 billion have been reserved for direct lending measures aimed at strengthening companies’ equity and another Euro 100 billion for recapitalization purposes.
TUI AG, headquartered in Hanover, Germany, is the world’s leading tourism group. The group activities consist of tour operators, 1,600 travel agencies, multiple online portals, five airlines with around 150 aircrafts, over 400 hotels, 17 cruise liners and many incoming agencies in all major holiday destinations around the globe. TUI covers the entire tourism value chain under one roof. In the 2019 financial year, TUI Group, with a headcount of around 70,000, recorded turnover of about Euro 19 billion and an operating result of Euro 893 million. The TUI Group’s share is listed in the FTSE 250 index, in the Quotation Board of the Open Market on the Frankfurt Stock Exchange and on the regulated Market of the Hanover Stock Exchange.
Meet our Senior Team
I am enthusiastic about creating sustainable growth and the highest value for our clients, and strive to leave a positive footprint beyond any successful M&A transaction.
Managing Director | Management Board MemberFrankfurt
View More Transactions
Lincoln International has advised Cerea Partners on the sale of its investment in In Store Display to management and Indigo Capital
Lincoln International advised High Road Capital Partners on the sale of Radix Wire & Cable to Windjammer Capital
Lincoln International advised Apax Partners and New Alpha Asset Management on acquiring majority stake of Mailinblack
Lincoln International advised Louis Francois on the exclusivity agreement with Novax, subsidiary of Axel Johnson
Lincoln International advised SK Capital Partners on the sale of NuCera Solutions to Chase Corporation
Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.