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Travel industry news

23 Apr 2019

BY James Chapple

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Investors reportedly weighing up bids for Thomas Cook

At least three potential investors are reportedly weighing up bids for Thomas Cook, according to Sky News.

Thomas Cook Westfield Stratford City
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Investors reportedly weighing up bids for Thomas Cook

Among them, Sky reports, is Cook’s Chinese joint venture partner Fosun International, which currently holds around a 17% stake in the company.


Other suitors include EQT, owner of Switzerland’s Kuoni Group, and KKR, the London-based owner of Travelopia.


Thomas Cook declined to comment when approached by TTG on Tuesday morning (23 April). Cook has called a general meeting for 29 April.


The reported interest follows Cook’s decision to place its group airline up for sale earlier this year.


Cook plans to shut a further 21 retail stores, placing 320 jobs at risk, and further shift its focus towards its digital channels and own-brand hotel operation.


The company posted a group-wide pre-tax loss of £163 million last year, while its net debt increased to £389 million.


It will reveal its full-year results next month.

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