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TUI Travel Plc Announces Sale of Interests in The Airline Group for GBP 38 million


Tuesday, 19 Nov 2013 02:00am EST 

TUI Travel Plc announced that it has agreed to sell the majority of its interests in The Airline Group Limited ("Airline Group"), a shareholder in UK Air Traffic controller NATS Holdings Limited ("NATS"), for cash consideration of approximately GBP 38 million. TUI Travel Plc will sell 87.4% of its shareholding and loan note interests in Airline Group, which holds a 41.9% stake in NATS, to Universities Superannuation Scheme Limited, acting as sole corporate trustee of Universities Superannuation Scheme ("USS"). Following the transaction, TUI Travel Plc will retain a small stub shareholding in Airline Group. The transaction is expected to complete during the first quarter of calendar year 2014 and is subject to clearance from the European Commission. 

Company Quote

437.6
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11 Dec 2014