Fairbridge buys Thomas Cook India for $150m
Thomas Cook has now sold its India business twice in the space of six years. The asset was first offloaded to Dubai Financial in 2005 as a package deal including licenses to operate the brand in the Middle East, as Thomas Cook divested non-core assets to focus on Europe. Two years later, the company performed an about-face and decided to expand in emerging markets. It bought back a controlling stake in Thomas Cook India plus the Middle East business.
Now the India business has changed hands once again, though not in circumstances the parent company would wish. As India's largest integrated foreign exchange and travel services operation, with an EBITDA...
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