Investors snap up shares in Hapag-Lloyd parent
Another high-profile investor has purchased a substantial stake in TUI, the German tourism company that owns container shipping giant Hapag-Lloyd.
Reuters reports that hedge-fund manager Florian Homm has purchased about a 3 percent stake in the company.
The news agency says Homm “considers himself to be a friendly investor in the firm.” Elsewhere in the story it reports that he said: “there were no real synergies between TUI’s tourism and shipping operations.”
Some investors have suggested TUI hive off Hapag Lloyd from the tourism business, although TUI greatly increased its participation in it though its 2005 acquisition of CP Ships.
Homm’s purchase comes on the heals of an announcement by Egyptian investor Hamed El Chiaty that he purchased more than 3 percent of TUI and planned on increasing that to more than 5 percent. El Chiaty is in the tourism business.
Reuters also said three friendly Spanish investors, led by hotel partner Riu, hold some 13 percent in the firm.
Investors snap up shares in Hapag-Lloyd parent
