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BRIEF-Co-op Group to exit from travel JV with Thomas Cook Group
December 6, 2016 / 7:11 AM / in a year

BRIEF-Co-op Group to exit from travel JV with Thomas Cook Group

Dec 6 (Reuters) - Co-operative Group Ltd

* Exit from travel joint venture

* Has served notice to exit joint venture that was set up with Thomas Cook Group in 2011

* Under agreement co-op will receive 50 mln stg plus interest in return for its shares in joint venture by Nov. 30, 2017

* A payment schedule has also been agreed for guaranteed minimum dividend of 31.9 mln stg, with 20 mln stg due on Jan. 3, 2017 and remainder on April 3, 2017

* Interest will be payable on both instalments Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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