Fosun pitches debt for equity swap, capital injection at Thomas Cook.

By Owen Sanderson
12 Jul 2019

Package holiday group Thomas Cook said on Friday that it was discussing a deal with Chinese conglomerate Fosun Group, its largest shareholder, about a capital injection and a debt for equity swap.

Under the proposal, Fosun would inject £750m of new money, partly in debt and partly in financing facilities, giving it control in Thomas Cook’s tour operating business and a significant minority interest in the airline.

EU rules prevent Fosun owning a controlling stake in the airline business.

Fosun ...

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