July 30 (Bloomberg) -- Arcandor AG’s main lenders said they’re likely to sell most of the company’s stake in tour operator Thomas Cook Group Plc to investors after the insolvent German retailer defaulted on convertible debt.
“The most likely outcome would involve a market placing, off market sales or some combination of the two,” Royal Bank of Scotland Group Plc, Commerzbank AG and BayernLB said in a Regulatory News Service statement. The sale would involve a 43.9 percent stake in Thomas Cook that was granted to the lenders by Arcandor as security for their loans.
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