Thomas Cook India on Monday said it will acquire Tata Capital’s wholly owned subsidiaries, Tata Capital Forex and TC Travel and Services. It did not share the value of the proposed transaction. Thomas Cook India said its board has approved the signing of an agreement with Tata group firm Tata Capital, to acquire its wholly owned subsidiaries, Tata Capital Forex and TC Travel and Services.
“Our acquisition of Tata Capital’s forex and travel companies serves to further strengthen the Thomas Cook India Group’s leadership position in the travel and foreign exchange sector in the country,” Thomas Cook (India) Chairman & Managing Director (CMD)Madhavan Menon said.