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Thomas Cook India not part of brand's global sale to China's Fosun: CMD

Travel company, Thomas Cook, was sold to Chinese brand Fosun earlier this week, following a bankruptcy filing.

Nov 03, 2019, 03.30 PM IST
NEW DELHI: Travel services provider Thomas Cook India on Sunday said the sale of the company to China's Fosun does not include regions of India, Sri Lanka and Mauritius.

"With regard to recent media reports pertaining to the sale of the Thomas Cook Global brand to Fosun of China, it is imperative to clarify that the reported sale of the Global Thomas Cook brand to Fosun of China does not include the regions of India, Sri Lanka and Mauritius," Thomas Cook India Chairman and Managing Director Madhavan Menon said in a statement.

The brand for these markets has been and continues to be protected for exclusive use by Thomas Cook India Ltd (TCIL) until November 2024 as per a brand licence agreement entered into in 2012 between Thomas Cook India's promoters Fairfax Financial Holdings and erstwhile Thomas Cook Plc, he added.

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