Arcandor AG's stake in Thomas

RNS Number : 5238W

Royal Bank of Scotland Group PLC

30 July 2009

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

30 July 2009

Statement re Arcandor AG's stake in Thomas Cook Group plc

Bayern LB, Commerzbank and RBS, the Mandated Lead Arrangers (the MLAs) to Arcandor AG's banking syndicate, confirm that they are considering their options in respect of a 43.9% stake in Thomas Cook Group plc currently (directly or indirectly) held by Arcandor AG, which was granted as security to the MLAs in respect of lending commitments under certain facilities agreements and against which the MLAs can take enforcement action following default by Arcandor AG under such facilities agreements. It is currently envisaged by the MLAs that the most likely outcome would involve a market placing, off market sales or some combination of the two. No course of action has been determined at this stage. A further announcement will be made if appropriate. 

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