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2008 June 18   13:33

TUI may sell Hapag-Lloyd without Hamburg real estate

TUI AG. may sell shipping unit Hapag-Lloyd without its real estate, making it easier for a possible buyer to move the unit out of Germany and cut jobs, Financial Times Deutschland reported, citing company sources.
Hapag-Lloyd employs some 1,800 workers in Hamburg, of which only about 600 are sailors, the newspaper said.
TUI is currently sending its sale prospectus to possible buyers, it said.
A spokesman for TUI declined to comment on the matter, the newspaper said.
According to media reports, Temasek's Neptune Orient Lines, Danish AP Moeller Maersk and France's CMA CGM are among the interested parties.
However Bielefeld, Germany-based Oetker Group, which operates the Hamburg Sued shipyard, is not interested in buying Hapag-Lloyd, manager August Oetker said yesterday, denying speculation, FT Deutschland said.

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