Thomas Cook plans to sell and lease back Belgium property
Travel group Thomas Cook Group has agreed to sell and lease back an office property in Belgium to Koramic Real Estate.
Travel group Thomas Cook Group has agreed to sell and lease back an office property in Belgium to Koramic Real Estate.
Under the terms of the agreement, Thomas Cook will receive a cash consideration of €12.3m with an additional €2.0m retained by Koramic as a prepayment of rent.
The property was previously used as the firm's Belgium offices.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In a statement the travel company said said: "The group remains committed to reducing the net debt of the business and this transaction is part of that process. Transaction proceeds will be used to reduce the group's borrowings and/or for general corporate purposes."
The share price fell 1.54% to 16.00p in afternoon trading.
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Bitcoin price one of the most-asked questions on Alexa - here's how to buy the cryptocurrency
According to figures from Amazon, which cover September 2023 to November 2024, pop star Taylor Swift and Bitcoin were named among the most popular Alexa queries of 2024
By Chris Newlands Published
-
Investing for children this Christmas – five ideas
It might not come with a shiny ribbon, but an investment fund could be the gift that keeps on giving. We share five ideas if you are investing for children this Christmas.
By Katie Williams Published