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
AirAsia India introduces new routes
AirAsia India is connecting Kolkata with Bengaluru, Bhubaneswar, Bagdogra, Jaipur and Delhi. AirAsia India is introducing new direct flights connecting Kolkata. In a post on social media network Facebook, AirAsia
Turkish Ambassador hosted high tea at his official residence
The Ambassador of Turkey to India, H.E. Mr Şakir Özkan Torunlar, today hosted a High Tea for members of the Indian tourism and economy media at the official residence in
VISTARA BRINGS TEMPORARY MODIFICATION TO INFLIGHT SERVICES FOR HEALTH AND SAFETY REASONS
Vistara continues to take strong steps in response to the C OVID-19 pandemic. The airline today announced intended temporary changes to its inflight products and services on domestic and international
