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
Thomas Cook India continues expansion drive
South India currently the company’s largest and fastest growing source market Strong 32% increase in the company’s Leisure Business from South India Expands organically- opens 8 new outlets in the region
Ethiopian Airlines offers great connectivity to Addis Ababa
Ethiopian Airlines, the fastest growing and most profitable airline in Africa recently started double daily flights from New Delhi to Addis Ababa apart from double daily operations from Mumbai. Addis
ExploRJordan: Royal Jordanian’s Curated Luxury & Desert Experiences for Indian Travellers
As Indian travellers continue to crave immersive, high-value escapes, Royal Jordanian Airlines is offering seamless access to one of the world’s most captivating destinations—Jordan. With direct flights from Mumbai to
