Fairbridge Capital (Mauritius) Ltd has now become a promoter of Thomas Cook India Ltd (TCIL) following the completion of its acquisition of 76.69% stake of the travel firm from its erstwhile UK-based parent.
In an intimation to the company, Fairbridge Capital (Mauritius) said on August 14, 2012 that it has completed "acquisition of 45,346,449 equity shares and 118,125,000 equity shares from Thomas Cook UK Ltd and TCIM Ltd respectively, in TCIL. This is pursuant to an agreement for sale and purchase of the share capital of TCIL dated May 21, 2012," TCIL said in a filing to BSE.
"Pursuant to the aforesaid acquisition and with effect from August 14, 2012 Fairbridge Capital (Mauritius) would be the promoter of TCIL," the filing added.
The sale of the 76.69% stake in TCIL to investment firm Fairbridge Capital (Mauritius) was concluded at a buy value of over Rs 817 crore at a price of Rs 50 per share, TCIL said.
Fairbridge Capital (Mauritius), which is a subsidiary of Fairfax Financial Holdings Ltd, now has 87.10% stake in TCIL.
Fairbridge is an investment company engaged in long term investments and acquisitions in Indian region, TCIL added.
Shares of Thomas Cook India Ltd were today trading at Rs 60.20 per scrip on BSE, down 0.91% from its previous close.
