TUI tourism division and First Choice join forces

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Source: TUI

TUI tourism division and First Choice join forces Creation of one of the world’s leading travel group / TUI Travel PLC to be based in the UK / TUI AG majority shareholder with 51 per cent. / Powerful alliance generating 18 billion euros of revenues with 27 million customers
Hanover/Hamburg, March 19, 2007

The Boards of TUI AG and the British First Choice Holidays PLC (“First Choice”) have today agreed to create a unique leisure travel group which will also be one of the world’s most profitable travel companies. TUI AG will merge its tourism division, excluding certain hotel assets with First Choice. The new leisure travel group will be called TUI Travel PLC.

TUI Travel PLC will be headquartered in the UK and will seek admittance to trading on the London Stock Exchange.