Under the terms of the joint venture agreement, Thomas Cook will purchase The Co-operative Group’s 30% stake and Central England Co-operative’s 3.5% stake for £50 million and £5.8 million, respectively, in cash.
Following completion, which is expected in November 2017, Thomas Cook will own 100% of the UK retail stores business.
The JV was formed in October 2011 through the merger of the travel retail businesses of Thomas Cook, The Co-operative Group and Midlands Co-operative (now Central England Co-operative).
