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Thomas Cook India News for Sale to Fairbridge Capital

It is a real news that Thomas Cook India has been sold to Fairbridge Capital (Mauritius) Ltd, a subsidiary of Fairfax Financial Holdings. The price for payment is equivalent to Rs 50 per share, which represents a premium of 11 per cent over the market price immediately before the announcement of the auction process.

Thomas Cook will receive gross cash proceeds of Rs 8,174 million for its shareholding, and this will help it to recast its segment. Thomas Cook India was a good venture as it had clocked net profit of Rs 56.24 crore for the 12 months ending December 31, 2011. However it is also a smart move to retire high interest debt.

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