Thomas Cook Group announces acquisition of Russian tour operator Biblio-Globus

The British travel company Thomas Cook Group announced the purchase of the Russian Biblio-Globus, which is called the largest tour operator in the Russian Federation.

Thomas Cook Group's partner in the deal will be a company owned by Turkish Sarpedon Travel. The first installment, according to the press release, will be $10 million.

"As a result of the deal, the British tour operator received 100% of our company's shares. This is a large global corporation, and we will represent the Russian market on its behalf on the world stage," Biblio-Globus said.

Biblio-Globus serves three million people a year, about half of whom are engaged in domestic tourism, the report says. In 2018, the company took 109th place in the top 200 private companies of the Russian Forbes magazine with revenue of 79.5 billion rubles.