Cox & Kings in talks to acquire UK travel company Holidaybreak
Cox & Kings is in talks to acquire UK travel firm Holidaybreak, which provides residential outdoor education and adventure trips for school children.
By ET Bureau | Updated:
NEW DELHI: Cox & Kings is in talks to acquire UK travel firm Holidaybreak, which provides residential outdoor education and adventure trips for school children. Based on Monday's close, the Northwich-based company is valued at £225.24 million, according to news agencies.
Cox & Kings' shares closed at Rs 197.65, down 1.20% on Tuesday at BSE after the Mumbai-based travel company that went public in 2009 confirmed to the BSE that it was in talks with Holidaybreak for a possible deal.
"In line with the company's growth strategy and expansion, we are in talks with Holidaybreak, which may or may not lead to an offer for shares," it said.
Holidaybreak shares were up 12% at 412 pence, making it the second biggest gainer on the London Stock Exchange on Tuesday.
Cox & Kings' shares closed at Rs 197.65, down 1.20% on Tuesday at BSE after the Mumbai-based travel company that went public in 2009 confirmed to the BSE that it was in talks with Holidaybreak for a possible deal.
"In line with the company's growth strategy and expansion, we are in talks with Holidaybreak, which may or may not lead to an offer for shares," it said.
Holidaybreak shares were up 12% at 412 pence, making it the second biggest gainer on the London Stock Exchange on Tuesday.
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