Tour and travel firm Cox & Kings today said it has sold additional 3 per cent stake in Prometheon Holdings UK to SSG Capital Management for Rs 110 crore after transaction expense and tax.
The company had earlier this month sold 11.58 per cent stake in Prometheon Holdings UK to SSG Capital for Rs 450 crore, after transaction expense and tax.
The company's wholly-owned subsidiary Prometheon Enterprises Ltd (PEL) has sold additional stake of 3 per cent in Prometheon Holdings UK (PHUK) to an investee company of SSG Capital Management, Cox & Kings said in a statement.
Prometheon Enterprises Ltd (PEL) along with C&K India before the stake sale in the first tranche held 65.58 per cent stake in PHUK, which houses the education and hybrid hotels businesses, it added.
"Pursuant to the stake sale in two tranches, Cox & Kings Group will hold 51 per cent of PHUK through PEL and C&K India while SSG Capital will hold 49 per cent," Cox & Kings said.
Cox & Kings is a leading leisure and education travel group with operations in 22 countries across four continents.