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Thomas Cook Group Plc Sells 91.5% of Its Shareholding in The Airline Group Limited that Holds 41.9% Stake in NATS Holdings Limited


Tuesday, 19 Nov 2013 02:00am EST 

Thomas Cook Group Plc announced that the Company has agreed to sell 91.5% of its shareholding and loan note interests in The Airline Group Limited, which is a 41.9% shareholder in NATS Holdings Limited, to 41.9% shareholder in NATS Holdings LimitedSuperannuation Scheme Limited, acting as sole corporate trustee of Universities Superannuation Scheme (USS). Following the transaction, Thomas Cook Group plc will retain the balance of its stake in The Airline Group Limited. The cash consideration is approximately GBP 38 million, which will be used to further reduce the Group's debt. The transaction is expected to complete during the first quarter of calendar year 2014. Completion is subject to clearance from the European Commission. 

Company Quote

115.3
0.4 +0.35%
12:08pm EDT