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TUI boosts joint venture with Royal Caribbean Cruises

Christian Fernsby |
TUI today said it would bolster its cruises joint venture with Royal Caribbean Cruises bringing in its Hapag-Lloyd Cruises unit, which is valued at 1.2 billion euros ($1.32 billion) as part of the deal.

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TUI said the transaction, under which the TUI Cruises joint venture will become the new owner of the unit, would result in a considerable book gain and is expected to be completed in summer 2020.

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