Thomas Cook (India) has informed that the Company has received from Travel Corporation (India) and SOTC Travel Private (formerly known as SITA Travels), wholly owned subsidiaries of the Company, intimating that they have entered into a definitive agreement to acquire identified Destination Management Specialists (DMS) of the Kuoni Group (located in 17 countries) from Kuoni Travel Investments, Zurich, Switzerland and / or its affiliates. They have also been informed that the acquisition of all the DMS is on a going concern basis and that SOTC Travel and Travel Corporation (India) will acquire 100% stake in all the DMS (excluding those DMS where local regulations mandate local participation) except for USA, where an asset acquisition will be undertaken.
The above information is a part of company’s filings submitted to BSE.
