Thomas Cook India’s wholly owned subsidiary - Thomas Cook Lanka, has entered into a Share Purchase Agreement (SPA) for the purpose of acquiring 24% of the issued, subscribed and paid up share capital of Sita World Travel Lanka by way of purchase from the minority promoters. Sita World Travel Lanka was incorporated in 1997 to promote leisure travel to Sri Lanka.
The balance 76% is held by SOTC Travel Service which is a subsidiary of Thomas Cook India and Travel Corporation of India. The successful completion of the acquisition is subject to statutory and regulatory approvals.
Thomas Cook (India) (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business. The company set up its first office in India in 1881.
