Thomas Cook completes 100% acquisition of Kuoni Travel

Travel firm Thomas Cook (India) has completed the Rs 535 crore acquisition of Kuoni Travel (India) from the Kuoni Group.

Thomas Cook, along with its wholly-owned subsidiary Travel Corporation (India) Ltd, has completed the acquisition of 100% shareholding of Kuoni Travel, the company said in a BSE filing on Thursday.

The deal comes two days after the competition regulator Competition Commission of India (CCI) gave a go-ahead to the deal.

Thomas Cook (India) Managing Director Madhavan Menon said, "We have successfully completed the closure process for the acquisition of Kuoni Travel across India and Hong Kong." 

He added,"This gives us significant synergies across the entire spectrum of travel services, including in-bound, MICE, out-bound and domestic as also corporate travel." 

On August 8 this year, Thomas Cook had announced acquisition of the Kuoni Group's business in India and Hong Kong for Rs 535 crore.

At 1327 hours, the shares of Thomas Cook India were trading up 0.91% or Rs 1.85 at Rs 204.30 intraday on BSE.