The merger of the Tourism Division of TUI AG and First Choice Holidays PLC was been successfully completed, Tuesday.As a result, First Choice Holidays PLC’s listing was cancelled at this morning and the ordinary shares of the new combined group, TUI Travel PLC, were admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s market for listed securities.
Commenting on the completion of the merger, Dr Michael Frenzel, Chairman of TUI Travel PLC: ’ TUI Travel has tremendous opportunities ahead of it. We will bring together some of the best known brands in leisure travel coupled with excellent management expertise. TUI Travel shall be actively shaping the future of the tourism business.’ Peter Long, Chief Executive TUI Travel PLC added: ‘The creation of TUI Travel PLC, one of the world’s leading leisure travel companies, represents real growth opportunities for us as a Group. Not only will our shareholders benefit from efficiencies but we are also well positioned to deliver strong organic and acquisition led growth.’