TUI AG  (TTVLF) shares rose Tuesday after the tour operator said it has sold its remaining stake in container shipping firm Hapag Lloyd (HPGLY) .

The European travel firm raised €244.4 million ($275.7 million) from the sale of a near 5% stake in the company, reducing its holding to zero, just three months after it began its exit with the sale of around 6 million shares.

TUI has raised total net proceeds of €406.7 million from selling its position in Hapag Lloyd, which will be reinvested in the group's hotel and cruise businesses. The disposal is forecast to mean the company books a profit of €172.7 million for the year ending September 30. 

Shares of TUI rose nearly 2.5% to €13.15 during early trading in London, reversing the remaining balance of its year to date loss, leaving the stock with a 2017 gain of 2%.

TUI has been investing to transform itself into a leader in tourism and travel, with a particular focus on hotels & resorts and cruise ships.

It has part-funded its investment in ships and hotels by selling off unwanted assets such as Hapag Lloyd and Travelopia, a niche travel brand that it sold to KKR (KKR - Get Report) for €389 million back in February.

"This means that the inflated capex anticipated this year and next will be funded from these disposals, leaving the operational performance capable of underpinning the attractive dividend, which offers a 5% sustainable yield," said Stuart Gordon, an analyst at Berenberg.

However, other analysts have expressed scepticism at whether TUI shares can reward investors for owning them.

Mark Irvine-Fortescue at Panmure Gordon has flagged that the company's investment program is likely to see returns on capital and free cash flow under pressure, despite asset sales.

"We think ROCE could roll over in the next 12 months - a catalyst for share price underperformance. SELL," he wrote in a May research note.