PE-backed Thomas Cook India, Sterling Holiday to merge
Thomas Cook India, which was bought by Fairbridge Capital in 2012, has agreed to merge with Sterling Holding Resorts India, another private equity-backed enterprise, in a part-equity, part-cash deal worth INR8.7 billion ($140 million).
The combined entity will be India's largest holiday company, with an aggregate value of approximately INR30 billion. According to a regulatory filing, Thomas Cook will invest INR1.87 billion in Sterling...
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