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TUI: Take-over of Nouvelles Frontieres complete

TUI<.> AG has completed the 100 percent take-over of France`s leading tour operator Nouvelles Frontieres as planned…

TUI<.> AG has completed the 100 percent take-over of France`s leading tour operator Nouvelles Frontieres as planned. Europe`s largest tourism group has had links with the French group since October 2000. The participation has risen gradually to 30.3 percent in early 2002. The majority shares in Nouvelles Frontieres were purchased from the previous majority shareholder and founder, Jacques Maillot, and a group of minority shareholders.



Nouvelles Frontieres is the only fully vertically integrated tourism company in France and also the country`s largest tour operator, with approx. 1.8 million customers (2001). Last year, turnover was Euro 1.21 billion with around 5,400 employees. The Nouvelles Frontieres brand offers a range of products, including round-trips, cruises, club and all-inclusive holidays, group travel und incentives, sailing trips, language and diving holidays. Nouvelles Frontieres owns the Corsair airline, with 11 aircraft, and the Paladien hotel chain, with 24 Hotels.

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