Skift Take
Don't get too excited. Today's Thomas Cook, operated by Fosun, is a shell of its former self.
Chinese tourism group Fosun is in advanced talks to sell its Thomas Cook brand to Polish online travel agent eSky, Sky News reported on Monday, citing sources.
A deal with eSky, which is majority-owned by private equity firm MCI Capital, could be reached in coming weeks, according to the report.
“We are currently looking at several companies and constantly holding discussions and analysing their operations,” a spokesperson for eSky said in an emailed statement to Reuters.
Fosun did not immediately respond to Reuters’ request for comment.
Thomas Cook, the world’s oldest travel firm, collapsed in 2019 after it failed to finalise a restructuring plan, stranding over 100,000 passengers and leaving many without jobs.
Fosun, which was the largest shareholder of Thomas Cook when it was publicly listed, bought the business for 11 million pounds ($14 million) after it collapsed.
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Tags: china, esky, fosun, m&a, mergers, mergers and acquisitions, online travel, poland, thomas cook
Photo credit: A Thomas Cook aircraft as seen in 2016 before the company's historic collapse three years later. Source: CWhatPhotos/Flickr https://www.flickr.com/photos/cwhatphotos/27282461284/in/photolist-HyRKew-afBHCX-9eBCRd-ZKeWrg-5Vktdp-auZvGb-bzijFX-WdP95j-T7QnCH-cxUFkh-WFfHZt-9mcCuG-oUa6pn-oE4gzK-LsNk1h-TiyL88-Jh1KfM-7wduNz-E7ofor-9Kh1oa-WBmkNw-6M12Nn-FWY7o5-VPPpHh-D7xr8e-5VjJQp-p7gJz8-k5kGMv-s9yhJD-FaFHrh-HmCJzn-9KjWwL-7knFpe-7wcDut-WeKg2R-exL7h6-jSdEFc-5GGR2b-7e115F-f9duM7-r1jhZD-eoUVhn-5VzFzn-8HM7bw-exfF7x-oUa76T-bZg5Zq-qPdKVP-jU2yJH-7xaTxz CWhatPhotos / Flickr