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Photo: Thomas Cook Group

Bidder for Thomas Cook’s Nordic operations

An unsolicited offer for the business that includes Nordic brands Ving, Tjareborg and Spies has come from Triton Partners.

The struggling tour operator Thomas Cook has received a takeover bid for its Nordic operations from private equity group Triton Partners, an unsolicited offer it said it was considering even though the talks were at a preliminary stage.

The world’s oldest travel firm is already considering a sale of its airline to raise cash to repay debts, but this bid is for its business comprising tour operators and airline in Denmark, Sweden, Norway and Finland, the news agency Reuters reported. It includes the Nordic brands Ving, Tjareborg and Spies.

Triton Partners acquired the European tour operator Sunweb Group, which serves around 1 million customers annually, earlier this year.

“Thomas Cook Group confirms that it has received a highly preliminary and unsolicited indicative offer from Triton Partners for its Northern Europe business,” the operator said in a statement. “The group is currently evaluating this offer alongside the ongoing strategic review of its group airline.”

No certainty
It added: “The group has received multiple bids, including for the whole, and parts, of the airline business, and the board of Thomas Cook Group will consider these approaches with the aim of maximising value for all shareholders.

“There can be no certainty that a transaction will be concluded with Triton Partners. Thomas Cook Group will make a further announcement as appropriate.”

The Scandinavian business is a mainstay of Thomas Cook’s winter business as many northern Europeans have been keen on flying south in search of warmer weather in years past.

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