Report by Kirsten Bowling
GERMAN giant C&N Touristic has confirmed the purchase of
Thomas Cook from Carlson Companies at a cost of around £550 million, as
predicted in Travel Weekly September 11.
The deal follows the sale of Thomas Cook’s financial arm to
Travelex for £440 million last month.
Thomas Cook chief executive John Donaldson said: “There are
benefits of being pan-European and I wanted Thomas Cook to be part of that. The
whole group sale was nearly £1 billion.”
C&N will pump money into Thomas Cook’s brands and plan
new products.