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Fairbridge Capital (Mauritius) becomes promoter of Thomas Cook India

The sale of the 76.69 per cent stake in Thomas Cook India 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.

BT Online Bureau   New Delhi     Last Updated: August 16, 2012  | 16:01 IST

Fairbridge Capital (Mauritius) Ltd has now become a promoter of Thomas Cook India Ltd (TCIL) following completion of acquisition of 76.69 per cent stake of the travel firm from its erstwhile UK-based parent.

The sale of the 76.69 per cent 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.

Fairbridge Capital (Mauritius) on August 14 said 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".

Fairbridge Capital (Mauritius) which is a subsidiary of Fairfax Financial Holdings Ltd now has 87.10 per cent stake 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 the Bombay Stock Exchange.

"Pursuant to the aforesaid acquisition and with effect from August 14, 2012 Fairbridge Capital (Mauritius) would be the promoter of TCIL," the filing added.

Fairbridge is an investment company engaged in long term investments and acquisitions in Indian region, TCIL added.

Shares of Thomas Cook India Ltd were on Thursday trading at Rs 60.20 per scrip on BSE, down 0.91 per cent from its previous close.

With inputs from PTI

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