Hotel chain RIU Hotels & Resorts has just completed the acquisition of 1,100,000 shares in TUI AG for EUR 10,359,830, increasing its stake in the global travel group from 3.38% to 3.56%.
Luis Riu, CEO of RIU Hotels & Resorts, declared that the acquisition “represents another step in the historic partnership between the two companies, further proof that the fourth generation of the family remains as committed to the future as it is to the third generation.” tourism groups jointly conduct business.”
The historical relationship between TUI and RIU dates back 50 years and was formalized in 1977 with the creation of Riu Hotels SA, a hotel development company in which TUI holds 49% and the Riu family 51% shares. RIUSA II SA was established in 1993 as a hotel operating company in which both companies hold 50% of the shares. RIU has been a shareholder of TUI AG since 2004.