TCG Thomas Cook Group Plc

TIDM87GO TIDMTCG

RNS Number : 0534R

Co-operative Group Limited

06 December 2016

The Co-op has served notice to exit the joint venture that was set up with Thomas Cook Group in 2011, which has operated the UK retail travel branches of both businesses.

Under the agreement the Co-op will receive GBP50m plus interest in return for its shares in the joint venture by 30 November 2017. A payment schedule has also been agreed for the guaranteed minimum dividend of GBP31.9m, with GBP20m due on 3 January 2017 and the remainder on 3 April 2017. Interest will be payable on both instalments.

For further information on the terms of the exit and the agreed payment schedule, please see the announcement made by Thomas Cook Group https://www.thomascookgroup.com/regulatory-news

This information is provided by RNS

The company news service from the London Stock Exchange

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(END) Dow Jones Newswires

December 06, 2016 02:03 ET (07:03 GMT)

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