THOMAS Cook has completed the sale of a 76.69 per cent stake in its India operations to Fairbridge Capital Mauritius, a subsidiary of Toronto-based financial services holding company, Fairfax Financial Holdings Limited.
At a general meeting held on August 9, Thomas Cook shareholders sealed the deal with an overwhelming 99.99 per cent vote in favour of the transaction.
Managing director of Thomas Cook India, Madhavan Menon, said: “Thomas Cook India and Fairbridge Capital share similar values and beliefs and we are confident that the new ownership will build on the powerful growth momentum we have exhibited over the years.”
On the company’s future direction after the stake sale, he said: “Our focus would be to continually develop our core businesses and add further breadth and depth to our product-service portfolio.”
