Thomas Cook-MyTravel merger ‘on course for July completion’
The planned merger between Thomas Cook and MyTravel is expected to be finalised by July provided the deal is cleared by the European Commission.
The timetable emerged after the Commission granted approval for Thomas Cook’s prospective German owner KarstadtQuelle to acquire the 50% of the travel group it does not already own from Lufthansa.
“This transaction is now unconditional and its completion, which is expected to occur on April 2, will represent a significant step towards completion of the proposed merger of MyTravel and Thomas Cook,” a statement from MyTravel said.
KarstadtQuelle and MyTravel have formally notified the merger to the European Commission.
A decision as to whether the merger should be cleared or referred for an investigation on competition grounds is expected by May 4.
“If the decision of the Commission is that the merger should be cleared, MyTravel expects shareholder documentation to be published shortly after May 4. On this basis, completion of the merger would take place at the end of June or in the first half of July,” MyTravel said.
by Phil Davies
Phil Davies
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