Apr 21, 2019

Fosun eyes Thomas Cook as bidders circle holidays group

Thomas Cook, the nearly 200-year-old UK holidays group, is in talks with several potential buyers after a horrible year for the company, during which its market capitalisation tumbled by 80 per cent. Private equity groups KKR and EQT, as well as the acquisitive Chinese group Fosun International, are among the companies said to be interested in parts, or the whole, of Thomas Cook, according to Sky News, which first reported the talks. Thomas Cook's tour operator arm, which makes up the majority of group revenues, could be bought by an international investor. Two months ago Thomas Cook announced a "Strategic review" of its airline business, including a possible sale. In 2018, Thomas Cook issued two profit warnings and swung to a pre-tax loss of £163m, compared with a £9m profit the year before.

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