COX & KINGS DIVESTS MAJORITY STAKE IN LATEROOMS AND SUPERBREAK
Cox & Kings Ltd. (‘C&K’) has sold 100% of LateRooms UK Ltd. to Malvern Enterprises UK Ltd. (‘Malvern’) for GBP 20.0 million. C&K’s 65.58%-owned subsidiary, Holidaybreak Ltd. (‘Holidaybreak’), has sold 100% of its Superbreak business to Malvern in a transaction whereby Holidaybreak received a net cash consideration of GBP 9.25 million. The proceeds were used to pay off debt. C&K has bought a 49% stake in Malvern for GBP 6.37 million. Malvern is 51% owned by a reputed Europe-based private equity investor.
The transaction will enable Malvern to independently follow its own strategic growth path in the underpenetrated city-breaks market within the online package-tour space. Brands Superbreak and LateRooms are likely to gain substantially from a unified management team under the strategic guidance of the private equity investor and C&K.
You might also like
TAT promotes Ladies Golf in Thailand
As a part of Lady Golf Challenge project, a joint effort between TAT’s overseas offices and local travel agencies in their respective markets to offer special golf packages to more than
UP Tourism dept launches 24×7 phone helpline for tourists
The tourism department on Wednesday started its first 24×7 phone helpline (18601801364) for better convenience of tourists. From information about tourism centers to the lodging of complaints, the helpline will
Bolivia Visa
Explore Bolivia Visa Information On this page, you will get detailed information about Bolivia Visa and formalities. Visa Information for the Bolivia Visa Note & Fees Tourist Visa The Applicant
