Frankfurt / Main (dpa) - Another bank part of the travel group has been sold by the insolvent German Thomas Cook.

The call center subsidiary GfR with a good 500 employees went to a fund that was advised by the Munich investment company DUBAG, the companies in Frankfurt said.

The sale was completed before Christmas, so approval by the anti-trust authorities was not necessary. A purchase price was not mentioned.

The fund wanted to continue the business of the company for travel sales systems (GfR) with the existing management, it said.

However, the call center operator with locations in Berlin and Bochum will be provided with a manager from the DUBAG group. The Munich-based company advises and manages investment funds with funds that come from large investors.

After negotiations with many interested parties, a financially strong investor was found, said Thomas Cook insolvency administrator Ottmar Hermann. "We are happy to be able to preserve more than half of all jobs at the German Thomas Cook companies."

As a call center operator, GfR looks after the customers of online travel portals, mobile travel agents and travel agencies and, according to the information, achieved sales of 27 million euros in 2018.

The German Thomas Cook was in the wake of the bankruptcy of the British parent company and had filed for bankruptcy in autumn. Since a sale as a whole failed, parts of the German Thomas Cook based in Oberursel have already been sold. Galeria Karstadt Kaufhof secured 106 travel agencies and the German online platform.

DUBAG group Munich