Thomas Cook (India) Ltd. Approves Acquisition of Trails Resorts Private Ltd.'s Hotel Business for INR 600 Million
Thomas Cook (India) Ltd. has announced the acquisition of the Hotel Business of its step-down wholly owned subsidiary, Trails Resorts Private Ltd. (NTRPL), through a slump sale for a cash consideration not exceeding INR 600 million. The acquisition is expected to be completed within 60 days, subject to the fulfillment of certain conditions precedent and the execution of the Business Transfer Agreement (BTA). NTRPL is a well-known entity in the Hotel and Tourism Industry, currently operating/managing hotels across 4 locations in Maharashtra with a turnover of approximately INR 70 mn and a net asset value of INR 530 mn as of 31st December 2024. This acquisition is a related party transaction, as NTRPL is a wholly owned subsidiary of Sterling Holiday Resorts Limited, which in turn is a wholly owned subsidiary of the Company.
Key Highlights
- Thomas Cook (India) Ltd. to acquire the Hotel Business of Trails Resorts Private Ltd. (NTRPL) for INR 600 million.
- The acquisition is expected to be completed within 60 days, subject to fulfillment of conditions precedent and execution of the BTA.
- NTRPL is a well-known entity in the Hotel and Tourism Industry, currently operating/managing hotels across 4 locations in Maharashtra.
- NTRPL has a turnover of approximately INR 70 mn and a net asset value of INR 530 mn as of 31st December 2024.
- The acquisition is a related party transaction as NTRPL is a wholly owned subsidiary of Sterling Holiday Resorts Limited, which in turn is a wholly owned subsidiary of the Company.