It is not Triton that bought the charter operator Ving, according to what a source with insight told Dagens Industri on Tuesday afternoon.

On Tuesday afternoon, it became clear that the company behind the charter travel companies Ving, Spies and others, Thomas Cook Northern Europe, after a sales process lasting several weeks, will have new owners, Di reported.

The identity of the buyer is still confidential and will be announced today.

Among the speculators mentioned in the media has been Triton. The venture capital firm has confirmed that it submitted a non-binding offer for the company in May, but has since declined to comment on whether it was still a speculator.

According to sources with insight into the deal, it is not Triton that has now bought the company, but the venture capital firm is said to have gotten cold feet from the complexity that was added to the deal by the bankruptcy of parent company Thomas Cook in September, a complexity that Dagens Industri reported on at the time of the bankruptcy.

The complexity is summarized in the Nordic subsidiary's annual report for 2018:

”"During the year, new financing arrangements were also implemented within the Group such as an extended credit institution and commitment and guarantee facility. Thomas Cook Northern Europe AB guarantees these new financing arrangements together with a number of other subsidiaries of the Thomas Cook Group," the annual report, which was published in January and preceded Thomas Cook's information in May that Triton had then submitted an indicative offer, states.

Triton itself declined Di's request to comment on whether it is the buyer that will be announced on Wednesday, and also did not want to state how it views the aforementioned complexity.

Source: di.se