$810M deal ends TUI’s 49% stake in Spain joint venture

TUI Group says it will sell its 49% share in Spain’s RIU Hotels SA to co-owner RIU-Group for more than $810 million, resulting in an enterprise value for the joint venture of $1.8 billion. A separate, equal hotel partnership with RIU, listing 100 hotels and resorts globally, would not be affected by the transaction, according to TUI.