Thomas Cook gains 2% as co to acquire 51% stake in DEI Holdings

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Shares of Thomas Cook India gained 2.5 percent intraday Monday after company announced the acquisition of stake in the companies.

Travel Circle International (Mauritius), a wholly owned subsidiary of the company has entered into an agreement to acquire 51 percent stake in DEI Holdings, an entity registered in Jebel Ali Free Zone (JAFZA) Dubai, UAE along with its subsidiaries.

The transaction is subject to regulatory approvals and customary closing conditions.

Also, the company has entered into an agreement to acquire 51 percent stake in BDC Digiphoto Imaging Solutions, Mumbai.

Horizon Travel Services LLC, a wholly owned subsidiary of the company has entered into an agreement to acquire 51 percent stake in Digiphoto Entertainment Imaging LLC, USA.

At 14:31 hrs Thomas Cook (India) was quoting at Rs 215.50, up Rs 2.30, or 1.08 percent on the BSE.