{"id":591471,"date":"2019-12-08T04:38:36","date_gmt":"2019-12-08T04:38:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business\/"},"modified":"2019-12-08T04:38:36","modified_gmt":"2019-12-08T04:38:36","slug":"egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business\/","title":{"rendered":"Egyptian b\u2019naire Samih Sawiris acquires defunct Thomas Cook\u2019s German business"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>M&A WATCH- <\/strong><strong>Samih Sawiris acquires Thomas Cook\u2019s German business:<\/strong> The Samih Sawiris majority-owned <a href=\"https:\/\/www.rv-direkt.de\/homepage.html\">Raiffeisen Touristik Group (RT)<\/a> has acquired the German subsidiary of now-bankrupt British travel giant Thomas Cook, Sawiris\u2019 Orascom Development Egypt (ODE) <a href=\"https:\/\/ent.news\/2019\/12\/1306.pdf\">said in a press release (pdf)<\/a>. The acquisition, for which no value was disclosed, will bring 280 of Thomas Cook-affiliated agencies under RT, a company based in Burghausen, Germany, with annual revenues of EUR 3.5 bn. It also establishes Sawiris as \u201cthe most powerful travel contractor in German tourism,\u201d and RT as the third-largest German travel company by sales, <a href=\"https:\/\/www.handelsblatt.com\/unternehmen\/dienstleister\/samih-sawiris-aegypter-greift-nach-deutschem-reisevertrieb\/25290924.html\">Germany\u2019s Handelsblatt newspaper said<\/a>. Thomas Cook went into liquidation <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/24\/thousands-of-thomas-cook-reservations-in-egypt-canceled-as-company-goes-bust\/\">last September<\/a> after it failed to reach an agreement with its creditors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- Samih Sawiris acquires Thomas Cook\u2019s German business: The Samih Sawiris majority-owned Raiffeisen Touristik Group (RT) has acquired the German subsidiary of now-bankrupt British travel giant Thomas Cook, Sawiris\u2019 Orascom Development Egypt (ODE) said in a press release (pdf). The acquisition, for which no value was disclosed, will bring 280 of Thomas Cook-affiliated agencies [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,481,125,10811,1844,2380,238,234],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-591471","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-germany","tag-investment-watch","tag-mas","tag-samih-sawiris","tag-speed-round","tag-tourism","tag-travel","wpautop","entry"],"acf":{"mongo_id":"29044797-4e08-42ae-acc8-8499dc60cd13","is_powered_by":true,"section_story_id":"9e7116c3-fa38-4785-a159-05f978da721f","story_type":"1","photo_url":"","photo_position":"above","related_issue":[591461],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egyptian b\u2019naire Samih Sawiris acquires defunct Thomas Cook\u2019s German business - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egyptian b\u2019naire Samih Sawiris acquires defunct Thomas Cook\u2019s German business\" \/>\n<meta property=\"og:description\" content=\"M&amp;A WATCH- Samih Sawiris acquires Thomas Cook\u2019s German business: The Samih Sawiris majority-owned Raiffeisen Touristik Group (RT) has acquired the German subsidiary of now-bankrupt British travel giant Thomas Cook, Sawiris\u2019 Orascom Development Egypt (ODE) said in a press release (pdf). The acquisition, for which no value was disclosed, will bring 280 of Thomas Cook-affiliated agencies [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-08T04:38:36+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egyptian b\u2019naire Samih Sawiris acquires defunct Thomas Cook\u2019s German business\",\"datePublished\":\"2019-12-08T04:38:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business\/\"},\"wordCount\":127,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Germany\",\"investment watch\",\"M&amp;As\",\"Samih Sawiris\",\"SPEED ROUND\",\"tourism\",\"travel\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business\/\",\"name\":\"Egyptian b\u2019naire Samih Sawiris acquires defunct Thomas Cook\u2019s German business - 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Sawiris purchased a 30% stake in the company from founder and sole shareholder Dietmar\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/75.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570807,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/samih-sawiris-brings-his-stake-in-germanys-fti-group-to-51\/","url_meta":{"origin":591471,"position":1},"title":"Samih Sawiris brings his stake in Germany\u2019s FTI Group to 51%","author":"enterpriseam admin","date":"15 April 2020","format":false,"excerpt":"M&A WATCH- Samih Sawiris ups his stake in Germany\u2019s FTI to become majority shareholder: Orascom Development Holding Chairman Samih Sawiris has raised his stake in German tourism agency FTI Group to 51% from 33%, making him the company's majority shareholder, he told Al Arabiya yesterday (watch, runtime: 5:51). The German\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591465,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/talk-shows-on-7-december-sawiris-acquires-thomas-cook-anticipated-cabinet-shuffle-developing-egypts-education\/","url_meta":{"origin":591471,"position":2},"title":"Talk shows on 7 December: Sawiris acquires Thomas Cook, anticipated cabinet shuffle, developing Egypt\u2019s education","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"It was a mixed bag of nuts on the airwaves last night, with the talking heads keeping busy with an assortment of topics. The most interesting business-relevant topic last night was Samih Sawiris\u2019 acquisition of defunct tour operator Thomas Cook\u2019s German franchise (we cover the story in detail in this\u2026","rel":"","context":"In &quot;Enterprise+: Last Night\u2019s Talk Shows&quot;","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568553,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/15\/samih-sawiris-to-offload-shares-in-orascom-housing-communities-to-uk-fund\/","url_meta":{"origin":591471,"position":3},"title":"Samih Sawiris to offload shares in Orascom Housing Communities to UK fund","author":"enterpriseam admin","date":"15 November 2020","format":false,"excerpt":"M&A WATCH- Samih Sawiris will offload his shares in affordable housing player Orascom Housing Communities to an unnamed British investment fund, Al Shorouk reports, citing unnamed sources familiar with the matter. Sawiris will reportedly sell 85% of the company\u2019s shares, including his personal 55% stake and the 30% held by\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569032,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/11\/samih-sawiris-becomes-odh-interim-executive-chairman\/","url_meta":{"origin":591471,"position":4},"title":"Samih Sawiris becomes ODH interim executive chairman","author":"enterpriseam admin","date":"11 February 2020","format":false,"excerpt":"MOVES- Samih Sawiris has assumed the role of executive chairman at Orascom Development Holding, Reuters reports. Sawiris will be assisted in his temporary position by an interim committee consisting of Naguib Sawiris, Jurgen Fischer, Ashraf Nessim and Abdel Hamid Abu Youssef. Nessim and Abu Youssef were appointed to their respective\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572894,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/13\/property-value-will-likely-hold-ground-as-the-economy-slows-samih-sawiris\/","url_meta":{"origin":591471,"position":5},"title":"Property value will likely hold ground as the economy slows -Samih Sawiris","author":"enterpriseam admin","date":"13 July 2020","format":false,"excerpt":"Samih Sawiris sees property values holding their ground despite covid-19 market slowdown: Orascom Development Holding Chairman Samih Sawiris expects real estate to continue appreciating in value over the short term as the broader economy experiences a slowdown and alternative investment options remain scarce, he told Hapi Journal. High interest rates\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/591471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=591471"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/591471\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/591461"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=591471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=591471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=591471"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=591471"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=591471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}