Operator sells its 77% stake in Thomas Cook India to Canadian investor
Thomas Cook has announced the sale of its 77% stake in Thomas Cook India to a Canadian investor, for the equivalent of €117 million. It has also given the investor, Fairbridge Capital (Mauritius) Limited, a licence over the Thomas Cook brand for 12.5 years in the countries where Thomas Cook India operates.
The sale, which is conditional on shareholder approval and needs Indian regulatory approval, should contribute to the easing of the tour operator’s debt burden. As reported, the group has already agreed to sell and leaseback a number of its aircraft and has sold five of its Spanish hotels.