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TUI AG shareholder Fredriksen to sell 15.7 pct stake -bookrunner
February 19, 2014 / 6:11 PM / 4 years ago

TUI AG shareholder Fredriksen to sell 15.7 pct stake -bookrunner

FRANKFURT, Feb 19 (Reuters) - TUI AG shareholder and Norwegian shipping magnate John Fredriksen is to sell a 15.7 percent stake in the German travel and tourism group via a placing, the bookrunner said on Wednesday.

Fredriksen’s vehicle Monteray Enterprises will offload 39.7 million ordinary shares, with the price to be determined via an accelerated bookbuilding process to start immediately, Goldman Sachs said in a statement on Wednesday.

Reporting by Victoria Bryan; Editing by Edward Taylor

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