25th Nov 2013 09:30
25 November 2013
Sale of Neilson Active Holidays
Thomas Cook Group plc (the "Group") announces today that it has agreed to sell its specialist activity tour operator Neilson Active Holidays Ltd. to private equity firm Risk Capital Partners for consideration of £9.15 million. The transaction is expected to complete on or about 10 December 2013. All other parts of Thomas Cook's UK tour operations remain unaffected by today's announcement.
Commenting on the sale, Harriet Green, Group Chief Executive of Thomas Cook Group plc, said:
"The transformation of our UK business - and that of the Group overall - is happening at pace. We have previously undertaken a comprehensive review of our product portfolio and where we want our business to be. Today's announcement is the result of our continuing rationalisation of our business. Building on our other recently announced disposals, it will allow us to focus on those key brands, propositions and products that will deliver our strategy for profitable growth."
Notes
1. For the year ended 30 September 2013, the Neilson businesses contributed approximately £1 million to Group EBIT. As a result of this transaction, the Group will separately disclose a £13 million non-cash asset impairment write down within its income statement for the year ended 30 September 2013.
Enquiries
Investors & analysts | |
Geoffrey Pelham-Lane, Thomas Cook Group | +44 (0) 20 7557 6414 |
Media | |
Jenny Peters, Thomas Cook Group | +44 (0) 7568 105144 |
Andrew Lorenz, FTI Consulting | +44 (0) 7775 641807 |
Thomas Cook Group plc
Thomas Cook Group plc is one of the world's leading leisure travel groups with sales of £9.5 billion and 23 million customers in the year ended 30 September 2012. Thomas Cook is supported by c.27,000 employees and operates from 19 countries; it is number one or two in all its core markets. Thomas Cook Group plc's shares are listed on the London Stock Exchange (TCG).
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