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Thomas Cook Group

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Thomas Cook : buys Co-Op out from travel stores business for 56 million pounds

December 06, 2016 at 04:48 am EST

LONDON (Reuters) - British tourism company Thomas Cook said it would pay 55.8 million pounds to take full control of a jointly owned network of 764 travel shops in Britain which it had run with partner The Co-operative Group.

Thomas Cook said on Tuesday that the deal for it to buy minority stakes in the network came about after the Co-Op announced plans to exit the joint venture.

"This purchase gives us full control over our retail store network, enabling us to better integrate our stores with our online offering," Thomas Cook Chief Executive Peter Fankhauser said in a statement.

(Reporting by Sarah Young; editing by Kate Holton)

Latest news about Thomas Cook Group

Altor Fund V AB managed by Altor Equity Partners AB , TDR Capital LLP and Strawberry Group AS cancelled the acquisition of Thomas Cook Northern Europe AB from Thomas Cook Group plc.	20-10-29	CI
Triton cancelled the acquisition of Northern Europe business from Thomas Cook Group.	20-05-22	CI
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LOT Polish Airlines S.A. agreed to acquire Condor Flugdienst GmbH from Thomas Cook Group plc and others for approximately €380 million.	20-01-23	CI
Russian travel agency Intourist plans IPO after shareholder change	19-11-15	RE
Anex Tour agreed to acquire OAO VAO Intourist from Thomas Cook Group plc.	19-11-14	CI
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Altor Fund V AB managed by Altor Equity Partners AB , TDR Capital LLP and Strawberry Group AS signed an agreement to acquire Thomas Cook Northern Europe AB from Thomas Cook Group plc on October 30, 2019.	19-10-29	CI
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Thomas Cook Germany withdraws bridging loan application - liquidator	19-10-16	RE
Thomas Cook German airline wins EU okay for 380 million German loan	19-10-14	RE
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Rescue talks for Thomas Cook Germany are going well: liquidator	19-10-09	RE
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Company Profile

Thomas Cook Group is one of the world's leading tourism groups. It operates through Thomas Cook, Airtours, Neckermann, Condor, Ving, Direct Holidays Sunquest groups. Net sales break down by activity as follows: - sale of holiday packages (67.8%): flights, transfer, accommodation, travel insurance, etc. ; - airline services (32.2%). At the end of September 2018, the group owned 186 hotels and operated a fleet of 100 aircrafts. Net sales break down geographically as follows: the United Kingdom (24%), Germany (37.8%) and Europe (28.2%).

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