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Chinese Company May Receive 100% of the Shares of the Russian Intourist Tour Operator
24.10.2019 09:47
Chinese Company May Receive 100% of the Shares of the Russian Intourist Tour Operator

The Fosun investment company from China may receive 100% of the shares of the Russian Intourist tour operator after the bankruptcy of the British Thomas Cook holding that included the tour operator, if it is agreed with external managers.

      Fosun is a Chinese investment company holding an 18% stake in the Thomas Cook Holding. In July, the company planned to invest £ 750 million in the holding, which were supposed to provide it with sufficient liquidity and allow it to solve financial problems.

      Thus, the Chinese company would obtain a controlling stake in the holding. However, Thomas Cook announced bankruptcy on September 23. Fosun also owns an 85.6% stake in the Club Med travel company, Canadian Cirque du Soleil company, as well as companies in the fields of insurance, healthcare, fashion and banking in China and other countries.

Author: Anna Dorozhkina

Tags: Russian business Russian companies    

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