Club Med’s Chinese owner set to bid for Thomas Cook unit
2019/6/10 21:19:43
Fosun International Ltd.’s tourism unit is in talks to buy Thomas Cook Group Plc’s tour-operating business, Sky News reported.
Hong Kong-listed Fosun is already Thomas Cook’s biggest shareholder and is working with JPMorgan Chase & Co. on the potential offer. Discussions are at an early stage and it isn’t certain a bid will emerge, Sky said, citing people it didn’t identify. Any deal would exclude Thomas Cook’s airline business, which Fosun would be unable to acquire due to European Union rules.
Officials at both companies declined to comment when contacted by Bloomberg. The Fosun Tourism Group is a division of billionaire Guo Guangchang’s drugs-to-insurance conglomerate, which owns the luxury resort brand Club Med.