Thomas Cook sells Neilson Active Holidays to private equity firm
Thomas Cook announced today that it has agreed to sell its tour operator Neilson Active Holidays. The specialist activity tour operator will be sold to London-based private equity firm, Risk Capital Partners, for consideration of £9.15m.
The deal is expected to be completed around 10 December 2013. None of Thomas Cook's other UK tour operations have been affected by today's announcement.
Chief Executive of Thomas Cook, Harriet Green, 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.
The announcement comes less than week after the travel agent sold its foreign exchange business for £4.5m as part of its continuing efforts to pay down the company's debts.