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FILE PHOTO: A Thomas Cook Airbus A321-200 aircraft takes off in Palma de Mallorca (Spain) on July 28, 2018. REUTERS / Paul Hanna / File Photo
(Reuters) – Several parties have proposed to Thomas Cook to take control of his tourism unit, or the entire company, while his lenders were preparing for tight talks on the state of their finances Sky News reported on Saturday.
The company, which has put its aerial activity on sale, announced last month a revision of its monetary division in order to focus on its core business of vacation after a difficult period in 2018.
Citing unnamed sources, Sky News has reported here. The private equity firms KKR & Co and the Swedish buyout group EQT Partners were potential candidates for the group, while the Chinese Fosun International was among those with a preliminary interest in the travel industry.
Thomas Cook, the world's oldest tour operator, has hired AlixPartners advisors to develop its balance sheet and cost reduction plans, while its syndicate of more than a dozen lenders has retained FTI Consulting to advise them on their financial risks, the report added.
Thomas Cook and KKR said they would not comment on the report. EQT declined to comment, while Fosun could not be contacted immediately for comment.
Report from Sathvik N to Bengaluru; Edited by David Holmes
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