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Joint acquisition of the Thomas Cook Group Limited ...........

United Kingdom
05/08/1999
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Joint acquisition of the Thomas Cook Group Limited (UK), Thomas Cook Inc. (USA), and Carlson Leisure Group Ltd. (UK) by Westdeutsche Landesbank (West LB), Carlson Companies Inc. (Carlson) and Breussag Aktiengesellschaft (Breussag)

Joint acquisition West LB is a German bank and credit institution, Carlson is a privately-owned US company active in the travel, marketing services and hotel sector; Breussag is a German conglomerate active in the energy, technology, logistics and tourism sectors. Thomas Cook is a UK company active in the tour operating, travel agency and charter airline sectors in the UK, and as issuer of travel cheques and foreign exchange operator in the UK and elsewhere in the world. Thomas Cook will have the resources (assets, staff, management and finance) necessary to perform on a lasting basis all the functions of an autonomous economic entity.

The Commission identified three relevant product markets: tour operating, travel agencies and charter airline services. The Commission decided that all three markets are national in character. The new entity, Thomas Cook, will have 10% of the market share in the tour operating market. In the travel agencies market it will have less than 15% market share while in the charter airlines market it will have around 12% of UK charter airline capacity. The Commission decided not to oppose the operation and declared it compatible with the common market and the EEA agreement.

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