China’s Fosun Tourism Group to buy Thomas Cook for £11 million after collapse

Fosun Tourism Group has entered into an agreement with Thomas Cook Group PLC to acquire the brand, and the hotel brands Casa Cook and Cook’s Club for a total consideration of £11 million, as Fosun looks to expand its tourism business. The assets include trademarks, domain names, software applications and licenses of the British travel firm and related hotel brands, Hong Kong-listed Fosun said, adding that it did not plan to buy overseas assets or businesses related to Thomas Cook for the time being. Mr. Qian Jiannong, chairman of Fosun Tourism Group, said: “The Group has always believed in the brand