Slaughter and May is advising Thomas Cook Group plc on the sale of the Thomas Cook Egypt and Thomas Cook Lebanon businesses to Yusuf Bin Ahmed Kanoo (Holdings) Co WLL of Bahrain for £6.5 million in cash.

The transaction, which was announced on 7 October 2013, will be effected through the sale of Thomas Cook Overseas Limited, a UK company which trades in Egypt though its Thomas Cook Egypt branch, and Thomas Cook Lebanon SAL, a Lebanese company.

Thomas Cook Egypt and Thomas Cook Lebanon offer outbound corporate and leisure travel to Egyptian and Lebanese customers, as well as foreign exchange services in Egypt and Lebanon. Thomas Cook Group plc will continue to offer its customers from other markets travel services to Egypt.

CONTACTS

Corporate and M&A: Tim Pharoah (partner), James Odom (associate), James Bridges (associate)