Takeover seals golden payday for travel firm founder

The founder of travel firm Gold Medal was set for a £47.5m payday today after Thomas Cook completed its buy-out of the firm.

Takeover seals golden payday for travel firm founder
Mon, 21 Dec, 2009 - 15:48

The founder of travel firm Gold Medal was set for a £47.5m (€53.3m) payday today after Thomas Cook completed its buy-out of the firm.

Ken Townsley, who set up Gold Medal more than 30 years ago, sold just over half of the company to the travel giant for £24.9m (€27.9m) last year.

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