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Royal Caribbean forms J/V for German cruise market

Mon Dec 10, 2007 2:16am EST

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OSLO, Dec 10 (Reuters) - U.S.-Norwegian cruise group Royal Caribbean Cruises Ltd (RCL.OL) (RCL.N) and Germany's TUI AG (TUIGn.DE) will form a new joint venture to serve the German market, the companies said.

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"The new company, TUI Cruises, will begin service with one ship, in early 2009, and grow quickly with two newbuilds planned for 2011 and 2012," they said in a joint statement.

Sales and marketing for the 50/50 venture will begin earlier in spring 2008, the companies said.

(Reporting by Aasa Christine Stoltz)

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