Mumbai, India (October 9, 2014) — On September 3 and September 5, 2014, pursuant to a purchase of 11,863,334 paid-up equity shares of Sterling Holiday Resorts (India) Limited (“SHRIL”) at Rs. 98 per share in an off-market transaction by Thomas Cook Insurance Services (India) Limited (“TCISIL”), TCISIL now holds approx. 53.48 % of SHRIL. Thus, SHRIL has now become a subsidiary of TCISIL.
TCISIL is a wholly-owned subsidiary of Thomas Cook (India) Limited (“TCIL”). Another subsidiary of TCIL, Travel Corporation (India) Limited (“TCI”) owns approx. 1.67% of the paid-up equity of SHRIL. The Thomas Cook India group now holds approx. 55.14% of the paid-up equity share capital of SHRIL.
About Thomas Cook (India) Limited:
Thomas Cook (India) Ltd (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business. The company set up its first office in India in 1881.TCIL‟s footprint currently extends to over 233 locations (including 22 airport counters) in 99 cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of 112 Gold Circle Partners and 112 Preferred Sales Agents in over 136 cities across India.
ICRA has reaffirmed long term rating of „ICRA AA-/ Stable‟ assigned to Thomas Cook (India) Ltd‟s non convertible debenture programme.
CRISIL has reaffirmed long term rating of CRISIL AA-/ stable outlook to the non convertible debenture programme and banking facilities and short term rating of CRISIL A1+ to TCIL‟s banking facilities. Thomas Cook (India) Ltd has been voted Best Tour Operator at the Lonely Planet Travel Awards 2013, Favourite Specialist Tour Operator at the Condé Nast Traveller Readers’ Travel Awards 2013 & 2012 and Best Tour Operator – Outbound at the CNBC AWAAZ Travel Awards 2013. In addition, TCIL has been chosen as the Best Corporate Travel Management Company by World Travel Brands 2012, and recognized as a “Consumer Superbrand” 2012-2013. At the National Tourism Awards 2012-2013, TCIL was the recipient of 3 prestigious awards. Thomas Cook India‟s Centre of Learning has received IATA accreditation as “Top 10 South Asia IATA Authorized Training Centers”, 2013 & 2012.
For more information, please visit www.thomascook.in
Thomas Cook (India) Limited is promoted by Fairfax Financial Holdings Limited through its wholly-owned subsidiary, Fairbridge Capital (Mauritius) Limited. Fairbridge is responsible for the execution of acquisition and investment opportunities in the Indian subcontinent on behalf of the Fairfax family of companies.
PRESS RELEASE SOURCE: Thomas Cook (India) Limited