Slaughter and May is advising Thomas Cook Group plc - proposed recapitalisation plan

Slaughter and May is advising the Board of Thomas Cook Group plc (the “Company”), 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.