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77% of Thomas Cook India sold to Fairbridge for Rs. 817 crore

Fairbridge which is a subsidiary of Fairfax Financial Holdings will be buying the 76.81 per cent of shares of the Thomas Cook Group’s stake in its India operations. The equivalent monetary value for this percentage is 16.34 crore.

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Thomas Cook

Fairbridge agreed to pay a value of Rs 50 a share for the majority stake. This was information given by Thomas Cook India. On Tuesdays, shares for the stake would be at Rs 65.48 each provided that the company will assume full control on its stock options.

A license will be given to Fairbridge from the Thomas Cook Group. The decision of the company to dispose their stock in India is just part of their ways of addressing their debt problem.

Doing this might not be that easy for the company, but they do not have much choice since if they go further without doing anything, they might end up in an even bigger problem.

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