Europe's second-biggest travel company Thomas Cook sold its 10-percent stake in L'Tur to the last-minute tour operator's founder, Karlheinz Koegel, L'Tur said Friday.

Koegel now holds 30 percent in L'Tur while TUI Travel, Europe's largest tourism company, continues to hold the remaining 70 percent.

The price of the deal was not disclosed.

A spokesman for Thomas Cook said it wanted to concentrate on its own last-minute offering.

"It was nice. But in a three-way relationship eventually you'll always have to take a decision," Koegel said in a statement.