Sat, 29 Jun 2013 | DIVISION SALE
Thomas Cook has put ski and sailing holiday firm Neilson on the market for an undisclosed amount.
The Sunday Times informed its readers in February that Thomas Cook’s chief executive, Harriet Green, planned to see about selling Neilson as part of a programme of disposals with the aim of raising funds to strengthen its balance sheet.
The value of Neilson is not clear but analysts say Thomas Cook could bring in up to £150 million from its disposals. Other businesses that face being sold off include Gold Medal Travel.
It is expected that several buyers, to include private equity firms and discount airline operator Monarch, will jostle against each other to win the business in an auction.
Established for about 37 years, Neilson began life as two separate companies, with one offering upmarket ski breaks and the other running sailing holidays in Greece. In 1999 its owner Thomas Cook brought the two entities together to create Neilson.
Based in Brighton Marina, the business offers ski and snowboarding holidays in locations including Canada, France, Italy and Austria. Its windsurfing, sailing and fitness breaks are based in Turkey amongst other places. It also offers walking holidays in the mountains and by lakes.
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Possible division sale for Thomas Cook
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