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.
Recent Articles on M&A
Source: Economic Times