Dubai Financial ups stake in Thomas Cook to 68%

MUMBAI: Leading travel solutions company, Thomas Cook on Friday said Dubai Financial LLC has acquired 8 per cent increase in its existing stake in the company to 68.12 per cent.

Dubai Financial acquired 1,183,461 shares representing 8.12 per cent stake in the company, pursuant to an open offer made to the shareholders during February and March, the company informed the National Stock Exchange.

In 2005, Dubai Financial LLC had entered into a share purchase agreement with Thomas Cook AG to acquire 100 per cent stake in the UK-based TCIM Ltd, subject to certain conditions in the agreement.

TCIM held 60 per cent stake in Thomas Cook (India) Ltd and the acquisition of TCIM was completed on February 4.