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Travel industry news

23 Apr 2019

BY James Chapple


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

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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