Tata Capital not in race for Thomas Cook India unit

MUMBAI: Tata Capital, the financial services arm of the Tata Group, has today said that it has not participated in the official bidding process for Thomas Cook's India business.

"Tata Capital has not participated in the official bidding process for Thomas Cook Plc's India business. Tata Capital continues to stay focused on its growth plans for its multiple businesses, both within and outside India," Tata Capital said in a statement here.

The section of media had earlier reported that Tata Capital is likely to be among bidders shortlisted to buy Thomas Cook India Limited, in which the parent company Thomas Cook PLC owns a 77.1 percent stake.

Credit Suisse is advising Thomas Cook on the auction process being conducted for the sale of its Indian unit.