Germany is investigating changes in the ownership structure of a major TUI shareholder linked to sanctioned Russian oligarch Alexey Mordashov, the world’s largest holidaymaker announced today.
TUI said it had recently learned that Ondero Limited’s major shareholder, who owns almost 30% of TUI through Unifirm Limited, was Marina Mordashova, the wife of Mordashov, the richest man in Russia.
Mordashov is subject to Western sanctions following the Russian invasion of Ukraine.
TUI stressed that it was not informed of any change in the shareholders on March 4, but a corrected update to the company a little later stated that Mordashova was the major shareholder at the time of the transfer of shares, on February 28.
The German Federal Ministry of Economy and Climate Protection informed TUI on Thursday that it has launched an investigation against Ondero Limited, regarding the effectiveness of the transaction.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
