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 advised Summit Park on the sale of Tennessee Industrial Electronics to Diploma PLC
Lincoln International advised Saw Mill Capital on the sale of Meteor Education to Bain Capital Double Impact
Lincoln International advised Syst'am, a portfolio company of Meanings Capital Partners, on the acquisition of Järven Health Care
Lincoln International advised founders in the sale of a majority stake in gastromatic to The Riverside Company
Lincoln International advised Spotlight Equity Partners on the sale of Ease to Luminate Capital Partners
Lincoln International advised Fondo Italiano d'Investimento and Eulero Capital in its agreement to acquire a minority stake in HNH Hospitality from Siparex Group
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.