Thomas Cook's open offer gets huge response
Thomas Cook UK has made an offer to acquire 32,795,996 equity shares representing around 20.4 per cent of the current voting capital of Thomas Cook India Ltd (TCIL) for Rs 107 per share.
By PTI |
MUMBAI: UK-based Thomas Cook Group Plc's open offer for 20 per cent stake in the domestic travel firm received an acceptance ratio of 100 per cent.
Shareholders of Thomas Cook India tendered 32,795,996 equity shares, the exact amount that Thomas Cook UK had made an open offer for, the company said in a filing to the Bombay Stock Exchange.
Thomas Cook UK has made an offer to acquire 32,795,996 equity shares representing around 20.4 per cent of the current voting capital of Thomas Cook India Ltd (TCIL) for Rs 107 per share.
Thomas Cook Group has opened a special account with Kotak Mahindra Bank and has deposited the entire amount of consideration therein as required under regulations, the company added.
Earlier in March this year, Thomas Cook Group Plc had said that it would acquire majority stake in Thomas Cook India from Dubai Financial Group (DFG) for up to Rs 1,336 crore.
Besides, it also planned to repurchase the Egypt business and brand licences in 15 Middle East countries from DFG.
Shares of the company were trading at Rs 73, down 3.38 per cent on the BSE in morning trade.
Shareholders of Thomas Cook India tendered 32,795,996 equity shares, the exact amount that Thomas Cook UK had made an open offer for, the company said in a filing to the Bombay Stock Exchange.
Thomas Cook UK has made an offer to acquire 32,795,996 equity shares representing around 20.4 per cent of the current voting capital of Thomas Cook India Ltd (TCIL) for Rs 107 per share.
Thomas Cook Group has opened a special account with Kotak Mahindra Bank and has deposited the entire amount of consideration therein as required under regulations, the company added.
Earlier in March this year, Thomas Cook Group Plc had said that it would acquire majority stake in Thomas Cook India from Dubai Financial Group (DFG) for up to Rs 1,336 crore.
Besides, it also planned to repurchase the Egypt business and brand licences in 15 Middle East countries from DFG.
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Shares of the company were trading at Rs 73, down 3.38 per cent on the BSE in morning trade.
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