TUI has completed its transformation in to a purely tourism and shipping company with the sale of its 80% stake in air conditioning and ventilation system company Wolf GmbH.
The sale to German-based energy-saving air conditioning firm Centrotec Group sees TUI get rid of its last industrial holdings asset.
The size of the deal was undisclosed.
Wolf GmbH employs 1,200 people in Germany and a further 350 people abroad.
It will be run as an independent company under the same brand.