Major shareholding in Cook’s to change hands?

Wednesday, 30 Jul, 2009 0

A majority interest in Thomas Cook Group looks likely to change hands.

It was confirmed today that options are being considered for the 43.9% holding in the travel giant held by troubled German firm Arcandor.
 
Retail business Arcandor filed for insolvency in June after requests for state help failed.
 
“The most likely outcome would involve a market placing, off market sales or some combination of the two,” a statement said.
 
“No course of action has been determined at this stage. A further announcement will be made if appropriate.” 
    
The statement was issued by banks Bayern LB, Commerzbank and Royal Bank of Scotland, the mandated lead arrangers to Arcandor’s banking syndicate.


 

profileimage

Phil Davies



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...