Thomas Cook to sell Hind Cargo to Allcargo

The board of directors of Thomas Cook India has approved a proposal to divest 100% stake in a wholly-owned subsidiary Hindustan Cargo (HCL).

HCL, a company headquartered in Chennai since 1994, is into air freight and logistic business.

According to a release issued by Thomas Cook to the BSE today, the company proposes to divest the entire shareholding of HCL to Allcargo Global Logistics.