Thomas Cook has completed the sale of HCV

31st Jul 2012
Thomas Cook has completed the sale of HCV

Thomas Cook Group has announced the completion of its interest in Hoteles Y Clubs De Vacaciones.

The struggling tour operator sold the Spanish hotel asset to a consortium led by Iberostar Hoteles y Apartamentos.

The deal was approved by shareholders on May 29th 2012.

“The sale is part of a wider disposal programme and underlines our commitment to reduce debt,” Thomas Cook said it a statement.

“The transaction has reduced the group’s net debt by €94 million and under the terms of the bank facilities agreement, the proceeds will be retained by the group.”



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