CAIRO, EGYPT, May 14, 2009
/24-7PressRelease/ -- Egyptian tourism investor Hamed El Chiaty, announced that he has increased his stake in TUI AG, the leading German-based European travel conglomerate, to 3.01 percent. "This investment in our company is proof of the faith in TUI's growth prospects." said TUI Chief Executive Officer Dr. Michael Frenzel.
El Chiaty's stake in TUI AG, has now exceeded the threshold of 3% of voting rights and at that time amounts to 3.01% corresponding to 7,572,440 voting rights of which 2,514,440 are held by El Chiaty and 5,058,000 by the Brierly Gardens Investments Limited, Chrysanthou Mylona, 3, PC 3030, Limassol, Cyprus (CEO Hamed El Chiaty) directly held and Lawson International Investments Ltd., Omar Hodge Building, no Wickham Cay 1, Road Town, Tortola, British Virgin Islands, pursuant to § 22 section 1 p. 1 No. 1 securities trade act (WpHG) and Olive Yard Holdings Limited, Road Town, Tortola, British Virgin Islands, pursuant to § 22 section 1 p. 1 No. 1 securities trade act (WpHG).
The TUI executive board initially welcomed the Egyptian investor Hamed El Chiaty as shareholder of TUI AG as of March 2007.
Hamed El Chiaty is the founder and Chairman of Travco Group, the Middle East's leading leisure Group. El Chiaty was named Tourism Pioneer by the Egyptian Ministry of Tourism for his role in developing tourism in Egypt particularly for his efforts in promoting tourism to Egypt's North Coast with his Mega Resort complex, Almaza Bay. Following a presidential decree, El Chiaty was appointed by the Ministry of Tourism as a member of Egypt's Supreme Council of Tourism.
About Travco Group International:
Travco Group International is the Egypt's leading integrated travel and leisure group, providing comprehensive services at home and now across the region.
Established in 1979, the company employs 13,000 people and its network of operations and service branches extends nationwide as well as globally, from Dubai, Abu Dhabi, Oman to Frankfurt, UK, China, Japan, and, soon, Qatar and soon in Jordan.
Travco Group International has penetrated every facet of Egypt's tourism industry, with integrated companies offering products and services that cover all sectors of Egypt's inbound and outbound tourism trade. Travco owns and operates the largest fleet of Nile cruises, hotels and resorts in premier tourist destinations in Egypt. Other services include ground transportation and car rental, restaurants, business jet travel, airline representations, ticketing and ground handling. Its brands include the Travcotels fleet of Nile cruisers, the luxury hotel brand JAZ Resorts, Sol Y Mar and Iberotel hotels & Resorts, Travco Air, Prestige Limousines, the Imperial Restaurant ship, Travco Properties with both resort developments Almaza Bay in Marsa Matruh and Madinat Makadi in the Red Sea.
Travco Group companies handled more than 1.3 million tourist arrivals into Egypt in 2008, representing more than 3 million tourist nights. In September 2008, Travco was named Egypt's number one travel company for the 12th consecutive year by the Government of Egypt.
For more information, please visit: http://www.travcogroup.com/
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