Travelex founder pockets £260 million

There were few significant movements among travel and tourism shares yesterday as London’s main equity indices suffered. The FTSE 100 index dropped 38.3 points to close at 4968.5, while the FTSE 250 managed a small gain, adding 9.3 points to end the day at 7254. Many of today’s City pages report that Lloyd Dorfman, founder of Travelex, has sold half of the foreign exchange company he founded 29 years ago, for the sum of £260 million. The Guardian reports that Dorfman has sold a 37 per cent stake to Apax Partners, valuing the company at £1.05 billion. Alpha Airports 102p NO CHANGE Avis Europe 60p DOWN 0.25p BAA 608p DOWN 5p British Airways 267.5p DOWN 4.75p CNG Travel Group 102.5p NO CHANGE Carnival 2990p DOWN 36p CenterParcs 77.5p NO CHANGE De Vere 544.75p DOWN 3.25p EasyJet 232.5p UP 2.25p ebookers 320p Up 0.5p EuroDisney 9p DOWN 1p Eurotunnel 17p NO CHANGE First Choice 171.5p DOWN 0.5p Hilton Group 313.5p UP 0.25p Holidaybreak 647p UP 2p Intercontinental 666.5p DOWN 2.5p Lastminute.com 105.5p UP 2.75p MyTravel 5.75p DOWN 0.125p P&O 314p UP 2.75p Rank Group 278.75p UP 3.75p Ryanair 413.75p DOWN 9.625p Stagecoach 113p NO CHANGE Report by Tim Gillett, News From Abroad Ltd