Capital International seen raising Cox & Kings stake

Capital International is speculated to be buying into travel firm Cox & Kings after its recent acquisition of Holidaybreak in the UK. The fund under its Small Cap World Fund has bought close to 15 lakh shares raising holding to around 7% from 6%.

It also holds around 1% through its Emerging Market Fund. The company recently acquired Holidaybreak for $518 million and is in the process of raising funds to meet payments. Holidaybreak provides education and adventure travel, camping and hotels to students in school in the UK and would pave way for its entry into a new niche in products segment: education travel.

Dealers say the fund is accumulating shares sold by Reliance Capital, Deutsche Bank and other domestic funds. The stock has gained around 8% in the past one week. It rose 2% to 216.