The Thomas Cook brand has been rescued from uncertainty after the Chinese owner of Club Med announced it would purchase the name for £11m.
The deal, which also includes hotel brands Casa Cook and Cook’s Club, gives Chinese group Fosun access to Thomas Cook trademarks, websites, social media accounts and software across most of the world
Fosun, which was Thomas Cook’s largest shareholder and a key part of the failed rescue deal, owns a variety of businesses including Club Med and Wolverhampton Wanderers FC.
In its statement, Fosun described Thomas Cook as a “pioneer of modern travel and one of the most well-known tourism brands around the world”.
He said: “The acquisition of the Thomas Cook brand will enable the group to expand its tourism business building on the extensive brand awareness of Thomas Cook and the robust growth momentum of Chinese outbound tourism.”
What's happening in Tunisia?
Subscribe to our Youtube channel for updates.