Thomas Cook Group plc’s Recapitalisation Plan

Slaughter and May advised the Board of Thomas Cook Group plc, as part of an integrated team with Latham & Watkins as advisers to the Company and the Company’s internal legal team, in relation to the proposed recapitalisation plan.

The Company has announced that it is in advanced discussions with the group’s largest shareholder, Fosun Tourism Group and its affiliates, and the Company’s core lending banks on the key commercial principles on which they would make a substantial new capital investment as part of a proposed recapitalisation and separation of the group. Under the proposal, the Company is targeting an injection of £750 million of new money which would comprise a capital injection and new financing facilities.

Thomas Cook Group plc is a British global travel company. It was formed on 19 June 2007 by the merger of Thomas Cook AG, itself the successor to Thomas Cook & Son, and MyTravel Group plc.

The Slaughter and May team advising Thomas Cook Group included restructuring partner Ian Johnson (Picture), financing partner Ed Fife and corporate partner Richard Smith.

Involved fees earner: Ed Fife – Slaughter and May; Ian Johnson – Slaughter and May; Richard Smith – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Thomas Cook;