18th Nov 2013 07:30
18 November 2013
Sale of UK Corporate Foreign Exchange
Thomas Cook Group plc announces today that it has completed the sale of its UK Corporate Foreign Exchange business, Thomas Cook CFX Ltd, to Moneycorp for a cash consideration of £4.5 million.
Thomas Cook UK will continue to operate its very successful consumer holiday money foreign exchange business through its network of retail stores and through its website.
Harriet Green, Group Chief Executive Thomas Cook Group plc, said:
"Consistent with our commitment to simplify our brands, proposition and products, I am pleased to announce the sale of our corporate foreign exchange business. This will allow us to focus more on our core retail customer base and continue to deliver our profitable growth strategy."
Notes to Editors
Moneycorp's purchase of Thomas Cook CFX Ltd will not include Thomas Cook's retail foreign exchange service, which will continue to be offered to its customers in its stores and via the web.
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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