TUI AG (TUI1)’S sale of a one-third stake in Hapag-Lloyd AG is nearing completion, Die Welt reported, citing an interview with German billionaire Klaus Michael Kuehne, a member of the Albert Ballin investment group seeking to buy the stake.
“The process isn’t yet totally complete, but the die has been cast,” the newspaper quoted Kuehne as saying in an e- mailed preview of an article to be published today.
Kuehne and Hamburg’s state government, also a member of the investment group, want to take complete ownership of the container-shipping line, the newspaper reported.
To contact the reporter on this story: Naomi Kresge in Berlin at firstname.lastname@example.org
To contact the editor responsible for this story: Phil Serafino at email@example.com