Clifford Chance

Clifford Chance advises Fosun on investment in Thomas Cook

International law firm Clifford Chance has advised Fosun International Limited (“Fosun”), a leading investment group headquartered in China with operations globally, on its investment in Thomas Cook Group plc (“Thomas Cook”), one of the world's leading global leisure travel groups.

Fosun has invested in 5% of Thomas Cook by way of subscription for newly issued ordinary shares and intends over time to purchase further shares on the open market with a view to increasing its shareholding in Thomas Cook up to approximately 10% of the issued ordinary share capital.

The investment is part of a proposed strategic partnership between Fosun and Thomas Cook to build international cooperation across a number of business areas, with a view to accelerating Thomas Cook’s existing growth strategy and creating the potential for new growth opportunities.  As part of the strategic partnership, Thomas Cook and Fosun will explore collaborative opportunities between Thomas Cook and other travel and leisure businesses in Fosun's investment portfolio, including a closer co-operation with Club Med and between Thomas Cook and Fosun in order to capitalise on the fast growing Chinese domestic and international tourism market. 

The Clifford Chance team was led by Corporate Partner Kathy Honeywood supported by Senior Associate Daud Khan and Associate Katelyn White in London and in Shanghai Partner Glen Ma advised on the deal with support from Senior Associate Yi Yang.