The Chinese conglomerate Fosun has bought the Thomas Cook brand for just over 11 million pounds, around 136 million kronor. Fosun was the largest shareholder in Thomas Cook and declined at the eleventh hour to keep the debt-ridden British tour operator afloat.

With the deal, Fosun, which also owns the French resort chain Club Med, not only gets the rights to the brand but also the hotel chain Casa Cook and Cook's Club.

The acquisition will build on Fosun's current holdings in the tourism sector and the increasing growth of Chinese tourism abroad, according to a statement.

Thomas Cook went bankrupt on September 23, leaving hundreds of thousands of holidaymakers stranded abroad.

Source: TT