Maclay Murray & Spens’ (MMS) corporate team has racked up another high-profile transaction in record time with the sale of Hotels4U.com to Thomas Cook Group plc, Europe's second largest travel business. The disposal of the UK's biggest online bed-bank by Centurion Holiday Group Limited, which was completed in just over two weeks, saw the Hotels4U's management team take a 25 per cent stake in the new business, with Thomas Cook funding the £21.8m deal cost from internal resources.
Philip Skerrett, chairman and corporate partner of MMS, said: “Centurion’s decision to sell Hotels4U is of strategic significance and enables Thomas Cook to cement its position in the accommodation-only market. The Chancellor’s decision to reform the CGT taper relief legislation created an additional impetus to complete ahead of the 6 April deadline and we’re likely to see a flurry of activity in the run-up to this milestone date.”
MMS advised Centurion Holiday Group Limited and Associated Newspapers Limited, a major shareholder.
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