MAKE PROFIT MADE PROFIT DAILY IN NSE MARKET CASH EQUITY 95% ACCURACY CALLS
DAILY 2 TO 3 CALLS MONTHLY FEE JUST RS.1500/- PER MONTH NO FREE TRAIL JOIN
TODAY MAKE MONEY FROM TODAY CALL ME 09952772333
Thomas Cook to merge with Sterling Holiday in $140 million deal
MUMBAI - Tour operator Thomas Cook (India) Ltd said on Saturday it
will merge its operations with resort owner Sterling Holiday Resorts India Ltd
in a deal valued at 8.7 billion rupees.
The deal will be structured in a multi-stage process in
which 100 shares of Sterling will be swapped for 120 shares of Thomas
Cook (India)
Thomas Cook, in a statement, said it will first make a
preferential allotment for 23.24 percent of Sterling at about 1.9 billion
rupees and will then purchase another 23.63 percent of Sterling for 2.7 billion
rupees.
This will be followed by a mandatory open offer for
buying up to 26 percent stake for 2.3 billion rupees. Thomas Cook will also
have the option to buy an additional 7.2 percent for 630 million rupees.
The merger, which is expected to close by the fourth
quarter of 2014, will give Thomas Cook access to Sterling Resorts' 19
properties in 16 holiday destinations across India.
(Reporting by Nandita Bose; Editing by Richard Borsuk)