MINNEAPOLIS Carlson Companies reached an agreement to sell its 22% ownership share of Thomas Cook Holdings, as well as the option for all remaining shares, to German tour conglomerate C&N of Frankfurt, Germany. Carlson became a shareholder of Thomas Cook in 1999 when it tendered its wholly owned Carlson Worldchoice travel operations (formerly A.T. Mays) for an ownership position. The company, with its partners, invested in Cook growth, particularly in the Internet arena, and increased the value of the Thomas Cook organization while ensuring its future viability. A spokesperson from Carlson reported that the Cook sale will enable it to move “even more rapidly with its already-aggressive growth plan in its other European businesses and throughout the world, particularly Asia, where company officials note a promising GDP growth rate. JP Morgan advised Carlson on the Cook sale. (12/7/00)
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