Thomas Cook to sell majority stake to Fosun Tourism

Latest News | Leisure & Tourism | Mergers & Acquisitions | South East

Thomas Cook has agreed a rescue deal with Chinese investor, Fosun Tourism, its banks and a majority of its bondholders, in a statement released earlier today.

The UK tour operator said in July it was working to secure new investment from Fosun, a major shareholder. The new deal would see the group take control of the business at the expense of other shareholders.

Fosun will put in £450m in return for at least 75% of the tour business and 25% of the group’s airline.

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