Thomas Cook's Nordic business expects to have new owner by Christmas By Reuters

Thomas Cook's Nordic business expects to have new owner by Christmas

Stock MarketsOct 28, 2019 07:35AM ET

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Thomas Cook's Nordic business expects to have new owner by Christmas

By Andreas Mortensen

COPENHAGEN (Reuters) - The Nordic business of Thomas Cook, the world's oldest travel firm which collapsed five weeks ago, expects to have a buyer by Christmas after attracting several bids and interest from over 10 parties, a spokeswoman said on Monday.

The Nordic business, also known as Thomas Cook Northern Europe, said in September it would continue to operate as usual as it is a separate legal entity and that it was looking for new owners.

"We are now closer than ever and it (the process to find a buyer) will definitely be concluded before Christmas," said Lisbeth Nedergaard, a spokeswoman for the Danish unit Spies, which is part of the Nordic business.

She declined to say how many firms were still involved in the bidding process.

Earlier this month, a non-binding bid was made for the Nordic operations from an unnamed bidder, the company said at the time.

Private equity group Triton, which made a bid for the business earlier this year, is among the interested buyers, according to Nordic media and Sky News, all citing unnamed sources.

Triton declined to comment when contacted by Reuters on Monday.

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