Fairbridge Capital sells stake in Thomas Cook India to sister firm

NEW DELHI: In an internal restructuring, investment firm Fairbridge Capital (Mauritius) has sold 29.76 per cent stake in travel services provider Thomas Cook India for Rs 1,698.15 crore to a sister concern of Fairfax group.

Fairbridge Capital (Mauritius) sold 8.18 crore equity shares at Rs 208.10 per share on Wednesday to H Investments Ltd ( HIL), part of Fairfax Financial Holdings Ltd ( FFHL), Thomas Cook said in a filing to BSE today.

Both Fairbridge Capital (Mauritius) and HIL are wholly owned and controlled by the Prem Vatsa-led FFHL.

The off-market transaction was part of an internal group restructuring, the filing said, adding Fairbridge Capital (Mauritius) holds 45.01 per cent in Thomas Cook India after the restructuring.

In 2012, Fairbridge Capital (Mauritius) had acquired 76.69 per cent stake in Thomas Cook India from its erstwhile parent UK-based Thomas Cook Group PLC for over Rs 815 crore.