Thomas Cook sells Middle East businesses

Thomas Cook sells Middle East businesses

£6.5 million deal for Egypt and Lebanon companies

£6.5 million deal for Egypt and Lebanon companies

Thomas Cook will still sell holidays to Egypt from the UK
Thomas Cook will still sell holidays to Egypt from the UK

Thomas Cook has sold off its Egyptian and Lebanon based companies for GBP6.5 million.

The two businesses have been sold to Bahrain-based Yusuf Bin Ahmed Kanoo (Holdings) Co WLL through the sale of Thomas Cook Overseas Limited.

The businesses dealt with outbound travel from Egypt and Lebanon as well as foreign exchange services. It does not impact holidays sold to the countries from the UK.

The sale is part of a series of measures to turn around Thomas Cook, which has seen a transformation under new chief executive Harriet Green.

“I am pleased to report further progress on our rapid transformation of Thomas Cook.   This sale will enable us to focus more of our capital and resources on our core businesses, supporting the delivery of profitable growth,” she said on the recent sale.

Gary Marshall
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Gary Marshall
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