After the acquisition, which TCG plans to fund from its balance sheet, it will once again control its global brand. The acquisition is earnings accretive and meets TCGÆs cost of capital criterion, the firm said in a written statement. The deal is expected to be fully closed by May 2008.
TCG will buy up to 74.9% of its Indian business, the Bombay Stock Exchange-listed firm Thomas Cook India, which has around 180 outlets in 40 cities.
It will initially buy 54.9% of the India business...
¬ Haymarket Media Limited. All rights reserved.