Thomas Cook (India) has received board’s approval for a corporate restructuring exercise by way of a composite scheme of arrangement and amalgamation. The company has aimed at streamlining its businesses into four key verticals namely: Travel (outbound, domestic, business travel & MICE), Foreign Exchange, Destination Management Services and Portfolio Investments such as Sterling Holiday Resorts.
The restructuring also involves consolidating the human resource services business into Quess Corp. Pursuant to the composite scheme, Thomas Cook shareholders will receive 1889 equity shares of Quess of Rs 10 each for every 10,000 equity shares of Re 1 each held in Thomas Cook. The swap ratio has been worked out by Talati & Talati, Chartered Accountants.
Thomas Cook (India) 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.
