Fosun Tourism Group, a Chinese tourism to investment company, revealed that it will buy UK travel firm Thomas Cook and related hotel brands.
The assets included in the deal are trademarks, domain names, software applications and licenses of Thomas Cook and related hotel brands.
The transaction is valued at 11 million pounds ($14.3 million). The hotel brands to be acquired by Fosun Tourism include the Casa Cook and Cook's Club hotel brands.
Fosun Tourism noted that the deal will enable the company to extend its tourism business, building on the extensive brand awareness of Thomas Cook and the robust growth momentum of Chinese outbound tourism.