Thomas Cook rose over 2% and touched the day’s high of Rs62.80 on the BSE, after Fairbridge Capital ( Mauritius) made an open acquire to buy additional 52 million shares at a price of Rs 65.48 per share.
Fairbridge Capital ( Mauritius) made an open offer to acquire additional 52 million shares at a price of Rs 65.48 per share.
“On May 21, Canadas Fairfax Financial Holdings has signed agreement with the company to acquire Thomas Cook Group Plcs 77% stake for Rs817 crore,” the Thomas Cook India said in a filing to the stock exchanges.
Property and casualty insurer Fairfaxs unit Fairbridge Capital ( Mauritius) has acquired 163 million shares of Thomas Cook (India) at price of Rs50 per share.
The disposal is part of the Group’s previously announced plans to reduce debt and strengthen its financial position. The net proceeds of the sale will be used to reduce the net debt of the Group, it added.
The stock opened at Rs56.40 and hit the monthly low of Rs53 on the BSE. A combined 6.85 million shares have changed hands on the counter in morning deals, against an average sub 2 million shares that were traded daily in past two weeks on both the exchanges.
....more info
Fairbridge Capital ( Mauritius) made an open offer to acquire additional 52 million shares at a price of Rs 65.48 per share.
“On May 21, Canadas Fairfax Financial Holdings has signed agreement with the company to acquire Thomas Cook Group Plcs 77% stake for Rs817 crore,” the Thomas Cook India said in a filing to the stock exchanges.
Property and casualty insurer Fairfaxs unit Fairbridge Capital ( Mauritius) has acquired 163 million shares of Thomas Cook (India) at price of Rs50 per share.
The disposal is part of the Group’s previously announced plans to reduce debt and strengthen its financial position. The net proceeds of the sale will be used to reduce the net debt of the Group, it added.
The stock opened at Rs56.40 and hit the monthly low of Rs53 on the BSE. A combined 6.85 million shares have changed hands on the counter in morning deals, against an average sub 2 million shares that were traded daily in past two weeks on both the exchanges.
....more info