Thomas Cook stems losses by selling Indian arm for £94m
- May 22, 2012 3:27 pm
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With the European economy flat at best, offloading assets is one of Thomas Cook’s few options for slowing its rising losses.
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Thomas Cook has announced the sales of its stake in Thomas Cook India to a Canadian investor, for £94 million. The group said it had reached an agreement to sell its 77% interest in Thomas Cook India to Fairbridge Capital (Mauritius) Limited. As part of the deal, it has granted Fairbridge a licence over the Thomas Cook brand for 12.5 years in the countries in which Thomas Cook India still operates.
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