Thomas Cook Group recapitalisation to take place in late Sep-2019

Thomas Cook Group announced (17-Sep-2019) the group's proposed recapitalisation will take place on the 27-Sep-2019 and 30-Sep-2019. As previously reported by CAPA, China's Fosun Tourism Group has agreed to contribute GBP450 million of new money to the group and acquire at least 75% of the equity of the group tour operator and 25% of the group airline. Thomas Cook continues to target implementation of the recapitalisation in early Oct-2019. [more - original PR]