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Tui AG’s €1.8 billion financing package will be put into motion by banks and authorities following shareholder approval.
The Hanover-based company will now put in place a range of financial measures announced in December after agreement with a syndicate of banks and the authorities in Germany, including the German Economic Support Fund.
The package includes €1.09 billion of financing and a €509 million rights issue.
Shareholders at an extraordinary general meeting on Tuesday (5 January) approved all the measures, including allocating a proportion of share capital to reserves, Tui said.
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