Jul 12, 2019
Thomas Cook in rescue talks with Chinese group Fosun
Before we start there is news this morning that Thomas Cook is seeking a £750m capital injection from Fosun, the Chinese conglomerate and biggest shareholder in the UK tour operator. Under the terms of the agreement, Fosun would take a controlling stake in Thomas Cook's core tour operator business and a "Significant" holding in the airline. US private equity group Bain Capital has agreed to buy a 60 per cent stake in WPP's market research business Kantar, in a transaction that values the subsidiary at around $4bn. If successful, WPP is expected to generate $3.1bn of proceeds after tax. UK defence group BAE Systems is hopeful it can seal a deal with New Zealand for its advanced warships in a contract that could be worth hundreds of millions of pounds. Colgate-Palmolive has reached an agreement to buy Paris-based cosmetics group Filorga Cosmétiques for €1.5bn in a sign that the US consumer goods group is turning to deals to diversify its interests beyond toothpaste and soap.
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