STRATEGIC ALLIANCE TUI – KIRIACOULIS IN THE FIELD OF SEA TOURISM
TUI Hellas, representing the largest Tour Operator of German interests in the world, signed a deal with Kiriacoulis Mediterranean Cruises Shipping S.A. to establish a Shipping Company under the name CATPRO, engaged in the purchase and exploitation of recreational vessels in Greece and abroad.
TUI will provide the management and also hold 50% of CATPRO, whereas Kiriacoulis Mediterranean Cruises Shipping S.A. will hold the other 50%. The new company will immediately proceed to order vessels, the operation of which will commence from this tourist season on in Greece. The shareholders of the company are committed to hold their initial equity interest for at least 5 years.
The Managing Director of TUI Hellas Mr. Nikos Papathanasis on the occasion of the completion of the deal stated the following:
“ΤUI has proven its interest in the Greek tourism market and its investment movements aim to provide development and prosperity. Having already a leading role in the Greek tourism market, TUI has decided to enter into the field of sea tourism having a strong ally such as Kiriacoulis Mediterranean Cruises Shipping S.A. We believe that by joining forces new opportunities are arising in the field of sea tourism.”
The President and Managing Director of Kiriacoulis Mediterranean Cruises Shipping S.A. Mr. Theofanis Kiriacoulis on the occasion of this strategic deal stated the following:
“It is very important for our company to co-operate with TUI, a highly recognized brand name worldwide, in the field of sea tourism. We believe that this particular deal will be the beginning of number of other investments planned by Kiriacoulis Mediterranean Cruises Shipping S.A. in the sea tourism market both in Greece and abroad. The management of Kiriacoulis Mediterranean Cruises Shipping S.A. considers that Greek tourism and more precisely sea tourism has plenty of room for development and it will be the target of large foreign tourism groups for the season to come. The new company in view of the 2004 Olympic Games will start operating from this season on.”
TUI Group, which is included in DAX of Frankfurt Stock Exchange, has posted a turnover of € 20,3 billion for 2002. The Group has presence in Germany, Austria, Switzerland, Poland, UK, Ireland, Belgium, France, Holland, Sweden, Finland, Denmark, Norway, China and Greece. It controls 285 hotels throughout the world the total capacity of which comes to 150.000 beds, 3.700 travel agencies, 81 tour operators and 100 airplanes. The Group serves around 22 million people every year and employs 75.000 staff. TUI Hellas has recorded a turnover of € 60 million for 2002 and owns 23 branch offices.
Kiriacoulis Mediterranean Cruises Shipping S.A. ranks among the first 3 largest companies engaged in the field of sea tourism worldwide and it is the only Greek company which besides the 8 service points in Greece (Athens, Rhodes, Kos, Paros, Lefkas, Corfu, Skiathos, Kalamata), it also operates 7 service points in Italy (Elba, Puntone, Palermo, Portisco, Carloforte, Agropoli, Marsala), 3 in Croatia (Pula, Zadar, Split), 1 in France (Bormes les Mimosas) and 1 in Turkey (Marmaris). The Group also owns charter agencies in Greece, France and Germany and also co-operates with more than 450 other agencies forming a worldwide charter network. Moreover, Kiriacoulis Group controls 4 marinas in Greece (Zea, Gouvia-Corfu, Kalamata and Lefkas).
Athens, January 15th, 2004