Thomas Cook Group PLC (TCG) has concluded the sale of 76.69% stake in its India operations to Fairbridge Capital (Mauritius) (Fairbridge), a subsidiary of Fairfax Financial Holdings. The deal was approved with 99.99% votes by shareholders at a General Meeting on August 9, 2012.
The shares transfer process was concluded post completion of all shareholder & regulatory requirements. Thomas Cook (India) (TCIL) is an independent entity and has no financial or operational dependencies on TCG.
Fairbridge is an investment company engaged in long-term investments and acquisitions in the Indian region with a focus on long-term capital appreciation through a flexible and value-oriented approach.
Fairbridge is a wholly-owned subsidiary of Fairfax Financial Holdings (Fairfax), a Toronto-based financial services holding company with a global presence in insurance and reinsurance, and a portfolio of assets in excess of $30 billion invested worldwide. Fairfax has almost 20 insurance subsidiaries and joint ventures globally, including several market leading companies such as Odyssey Re (USA), Crum & Forster (USA), First Capital (Singapore), Fairfax Brasil (Brazil), Gulf Insurance (Kuwait) and ICICI Lombard (India).
