NEW DELHI: Travel services provider Thomas Cook IndiaBSE -1.14 %’s Lanka arm has entered into a pact to acquire 24 per cent stake in Sita World Travel Lanka Pvt Ltd for an undisclosed amount.
“Thomas Cook Lanka Pvt Ltd, a wholly owned subsidiary of Thomas Cook (India) Ltd, has entered into a share purchase agreement for the purpose of acquiring 24 per cent of the issued, subscribed and paid-up share capital of Sita World Travel Lanka Pvt Ltd by way of purchase from the minority promoters,” Thomas Cook India Ltd (TCIL) said in a filing to BSE.
The company, however, did not provide any financial details of the agreement.
The balance 76 per cent is held by SOTC Travel Service Pvt Ltd, a subsidiary of Thomas Cook India and Travel Corporation of India Ltd, it added.
Sita World Travel Lanka Pvt Ltd was incorporated in 1997 to promote leisure travel to Sri Lanka.
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Source: Economic Times
