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.
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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