LONDON (Alliance News) - A private equity firm is in talks to buy Thomas Cook PLC's Nordic operations, Sky News reported on Thursday.
Triton Partners, which owns travel firm Sunweb, is in "early stage" discussions with Thomas Cook over a deal, according to Sky sources.
The group's Nordic operations trade under the brands Ving, Tjareborg and Spies.
One insider, reported Sky, has said the sale of its Nordic arm could was likely to be worth "several hundred million pounds".
https://news.sky.com/story/triton-flies-in-with-offer-for-thomas-cooks-nordic-arm-11726750
Thomas Cook shares were down 5.3% on Thursday at 11.565 pence, the stock having slumped over 90% compared to this time a year ago.
Last week, Thomas Cook said revenue for the six months to March 31 fell to GBP3.01 billion from GBP3.22 billion, as the first six-months represented a period of "uncertain consumer environment" across the firm's markets.
The company posted an underlying loss before interest and tax loss of GBP245 million versus a loss of GBP170 million a year ago.
Looking ahead, Thomas Cook said it now expects underlying Ebit in the second half to be behind the same period a year ago due to margin pressure stemming from continued competition related to consumer uncertainty.
