November 29, 2020

Stordalen lands in the Canarian market to "grow" in it and stay – La Provincia

The Ving Group, a Scandinavian division of Thomas Cook, which changed hands last week, guarantees compliance with reservations made by customers before the bankruptcy of the parent company and payments to hoteliers. The purchase of the company by theStrawberry group (40%)and the British investment funds Altor Fund V (40%) and TDR Capital (20%) saved the winter season in the Islands with regard to the Nordic market. The disappearance of the British tour operator put in danger up to 400,000 air places, more than 60% of them in Gran Canaria.

The Norwegian tycoonPetter Stordalen, which controls Strawberry and alma mater of the purchase operation, visit these days the Archpiélago. This Saturday he explained in an appearance held at the Gloria Palace Royal Hotel (Amadores) together with the president of the Federation of Hospitality and Tourism Entrepreneurs (FEHT), José María Mañaricua, the details of the operation and its future plans.

He knows that his travel companions undo positions within five to six years. Is aboutinvestment vehicles,so that at the moment they obtain the desired profitability, they sell in search of new business fishing grounds.

It is not the case of Strawberry."I have arrived to stay, of course", Stordalen pointed out. Its only objective at this time with respect to the business is to "grow together with the hoteliers" of the Islands. Even addressing Mañaricua, he said that if the businessmen of the Islands build more hoteliers, he will take care of filling them.

The Scandinavian division of Thomas Cook enjoyed good reputation thanks to sound management and the speed with which the business was drifting towards the digital realm. The clients were not missing, because for the citizens ofDenmark, Sweden, Norway and Finland,The Canary Islands "is the most important market in winter," Petter Stordalen said.

Hence, a total of up to "20 companies," said the Norwegian investor, were involved in the race to save Ving from bankruptcy. Why was the consortium chosen to make upStrawberry, Altor and TDR?The Norwegian tycoon gave maximum relevance to the fact that his operation included the purchase of the Thomas Cook Airlines Scandinavia airline, which has been renamed Sunclass Airlines, and the maintenance of jobs.

A team of 35 lawyers gave legal form to the offer. Other competitors came to similar offers but allowed three months to take over the airline. That would have left most of the vacations without vacations.400,000 NordicThey had already booked a vacation in the Archipelago. The previous Ving group "was running out of money," so they took control "in days." Otherwise, those trips would only have been left to "claim insurance" for the refund of the amounts they had paid. "We wanted to avoid that at all costs," Stordalen said.

In such a way that they let the last plane leave with the guarantee of having provided the company with liquidity,557.3 million euros(6,000 million Swedish kronor). "In the air, the commander informed the passage that the company had just gone bankrupt and, the next second, that a new investment group had entered," continued the main reference of the renewed Ving Group. That way he was able to clear the company's past, whose income was going through the sink into which the lack of liquidity of the broken parent company had become.

Nor would they have had easy to charge the Canary hoteliers who had contracting agreements with Thomas Cook. "On the first day of this month we pay thembetween 50 and 60 million euros ",reported the Norwegian tycoon. A real lifeguard for businesses in the Islands that were caught in an alley that was difficult to exit at dawn on September 23, the day of the bankruptcy of the tour operator.

In the decision of the previous owners to choose Strawberry and its partners also weighed the knowledge of the tourist business that Stordalen himself and his charisma treasures. This Saturday his countrymen stopped him through the halls of the moganero hotel where he appeared forTake a picture with him.He talked with everyone while he greeted.

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