OTHER NEWS - June 5, 1992
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Thomas Cook Sold to German Investors: London’s Midland Bank said it has agreed to sell its Thomas Cook Inc. travel division to German interests for $362 million. The 151-year-old travel service, foreign exchange and travelers’ check enterprises were purchased by Westdeutsche Landesbank Girozentrale, Germany’s third-largest bank, and its LTU Lufttransport-Unternehmen affiliate, Germany’s largest charter airline. Midland is now the target of a multibillion-dollar takeover battle between Hongkong & Shanghai Bank and Lloyds Bank.
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