Thomas Cook to raise Rs 125 crore for Kuoni purchase

Thomas Cook will raise Rs 125 crore through preference shares to part finance the acquisition of Kuoni's India business.

The company's share holders today gave approval for issue of preference shares to the promoter Fairfax group on a private placement basis.

In August Thomas Cook announced acquisition of Kuoni's business in India and Hong Kong for Rs 535 crore.

While the company has completed acquisition of Hong Kong business it is awaiting Competition Commission of India approval to complete the purchase of India business.