Company Execs Buy Thomas Cook Unit
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CAMBRIDGE, Mass. — The two top executives of Thomas Cook Travel U.S. have purchased a 50% interest in the company from the estate of the late Robert Maxwell, the company said.
The acquisition gives David and Linda Paresky, chairman and vice chairman respectively, 100% ownership of the American branch of Thomas Cook, the company said.
Terms of the deal were not disclosed.
The Pareskys had operating control of the Thomas Cook U.S. interests since 1989, when Maxwell acquired half the company.
Thomas Cook Travel is one of the largest travel agencies in the United States, with sales of $1.7 billion, and is a member of the worldwide Thomas Cook Group network.
The Thomas Cook Group Ltd. is owned by Westdeutsche Landesbank and LTU Group.
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