On Wednesday evening, Goldman Sachs announced that Monteray Enterprises Ltd. intends to sell 15.7% of the shares held in TUI AG in the framework of an accelerated bookbuilding process.

Following completion of the Offering, Monteray will have a residual position of 11m ordinary shares, equivalent to 4.4% of the ordinary share capital, in TUI AG.

In the framework of that transaction, the Spanish RIU Group and the Executive Board members Friedrich Joussen and Horst Baier will acquire shares in TUI AG, alongside other institutional investors. RIU has been a strategic investor in TUI AG for many years.

The move by Monteray is perceived as a strategically consistent step in the wake of the decision taken at the end of 2013 to sell the shares in TUI Travel.

Professor Dr Klaus Mangold, chairman of the Supervisory Board of TUI AG, declared: “The decision taken by Monteray is a consistent continuation of its strategy to focus on its core business.”