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TUI Group sees Travelopia deal closing in coming months

Reuters - UK Focus

LONDON, Dec (Shanghai: 600875.SS - news) 8 (Reuters) - TUI Group, Europe's largest travel company, said the sale of its specialist holiday arm Travelopia was progressing and it expected the deal to close in the first half of its financial year.

TUI (LSE: 0NLA.L - news) put Travelopia, comprised of over 50 brands offering specialist luxury, adventure and education holidays, on the block in September in a deal potentially worth 500-600 million euros.

Chief Executive Fritz Joussen told reporters on Thursday that the asset was attracting a lot of interest.

"We have now indicative offers in, and in the first-half of the financial year we will be hopefully closing the transaction," he said.

TUI's first half runs until the end of March. (Reporting by Sarah Young, Editing by Paul Sandle)