Monday , December 9 2019
Breaking News
Home / International Customs / Norway / Business Round-Up: Spies sold to Norwegian billionaire
Business Round-Up: Spies sold to Norwegian billionaire

Business Round-Up: Spies sold to Norwegian billionaire

The Danish travel company Spies now has new owners following the completion of a 6 billion kroner takeover.

A consortium led by Norwegian billionaire Petter Stordalen (40 percent) along with capital funds Altor and TDR Capital (40 and 20 percent) has taken control.

Since Thomas Cook Northern Europe’s bankruptcy in October, it had received several bids, and one has finally been accepted for Spies along with several other regional subsidiaries, including Ving, Tjæreborg and Globetrotter

Unlike its parent company in the UK, Thomas Cook Northern Europe was a profitable business, but in September it had to stop its operations in connection with the bankruptcy and look for a new owner.

A month later, Spies chief executive Jan Vendelboe confirmed to TV2 that sales had stabilised and that business was healthy.

Stordalen is probably best known as the owner of the Nordic Choice Hotels group, which has had a heavy presence at Copenhagen Airport since 2017.