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Tui shareholders rejig holdings following Russia sanctions

Tui shareholders rejig holdings following Russia sanctions

As the financial fallout from the Russian invasion of Ukraine continues, Tui Group has been informed that the ownership of its shareholder Unifirm has changed.

Consequently, the shareholder structure of the group has changed.

The holiday giant said it was made aware of the moves through regulatory notifications.

Unifirm has sold a 4.13 per cent stake in Tui AG to Severgroup.

However, the shares would still be attributed to Alexey Mordashov – who stepped down from the Tui board last week after being sanctioned by the European Union.

Filings in the UK last week showed that Mordashov also shifted control of an estimated $1.1 billion stake in mining company Nordgold to his wife, Marina Mordashova.

Unifirm has now seen its shareholding in Tui AG decrease to 29.87 per cent.


In this context, Mordashov has notified that his subsidiaries KN-Holding and Rayglow have sold their shares held in Unifirm to Ondero.

Tui has meanwhile also received a voting rights notification from Ondero regarding a corresponding acquisition.

Supervisory Board

Also over the weekend, Vladimir Lukin has resigned from his mandate on the supervisory board of Tui.

He informed the company that he had previously terminated his contractual relationship with Severgroup.

Lukin had been a member of the supervisory board of Tui since June 2019.