Thomas Cook completes 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 per cent shareholding of Kuoni Travel, it said in a BSE filing today.

The deal comes two days after the competition regulator CCI gave a go-ahead to the deal.

Thomas Cook (India) MD 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.

The stock of Thomas Cook India was trading at Rs 204.30 on BSE at 12:45 hours, up 0.91 per cent.