TT. Tui Travel

TIDMTT.

RNS Number : 4287U

TUI Travel PLC

15 October 2014

TUI TRAVEL PLC

Smaller Related Party Transaction

Investment in TUI Russia & CIS Joint Venture

TUI Travel PLC ("TUI Travel" or the "Company") announces that it has entered into arrangements to provide new investment of up to GBP GBP15.3m (USD $24.5m) and a new guarantee of GBP GBP3m (USD $4.9m) for its TUI Russia & CIS joint venture with S-Group.

In addition, existing guarantees of GBP GBP12.2m (USD $19.6m) and existing shareholder loans of GBP GBP4.6m (USD $7.4m) will be renewed.

Given the ongoing challenging trading environment for tour operators located in the Russian and Ukrainian source markets the above arrangements are prudent as we enter into the off-peak Winter period.

S-Group is wholly-owned and controlled by Russian businessman, Alexey Mordashov, who owns approximately 25% of TUI AG (the Company's majority shareholder with over 50% of the issued share capital) and who is therefore a related party.

This arrangement falls within Listing Rule 11.1.10R and a sponsor's written confirmation has been obtained stating that the arrangements are fair and reasonable as far as the Company's shareholders are concerned.

Dated: 15 October 2014

This information is provided by RNS

The company news service from the London Stock Exchange

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