TUI Travel parent TUI AG is looking to sell its 49.8% stake in container shipping company Hapag-Lloyd.

Investment banks Credit Suisse, Goldman Sachs and Greenhill have been selected to prepare a possible stock market listing of the shipping line in 2011.

TUI AG will also continue to seek core minority investors for Hapag-Lloyd. It announced in 2008 its intention to exit the container shipping business.

By Linsey McNeill