Hapag-Lloyd in travel takeover

PUBLISHED : Monday, 15 September, 1997, 12:00am
UPDATED : Monday, 15 September, 1997, 12:00am

Hapag-Lloyd plans to take over German travel services group Touristik Union International (TUI), making it the largest travel group in Europe. The merger could boost Hapag-Lloyd's annual sales from less than five billion deutschemarks (about HK$21.86 billion) to about 12 billion marks.