The deal covers 17 countries across key geographies providing a significant expanded global footprint
Mumbai, April 29, 2017: Thomas Cook (India) Ltd. India’s leading integrated travel and travel related financial services company, through its wholly owned subsidiaries (termed “Thomas Cook India Group”), announced its acquisition of Kuoni’s global network of Destination Management Specialists, covering 17 countries across the geographies of The Americas, Africa, Middle East, Asia and Australia. The transaction will be completed post customary closing conditions.
The multinational acquisition creates a strong global network that will transform the Thomas Cook India Group into a globally integrated travel services provider with the ability to leverage inherent synergies across its global travel portfolio. The agreement includes premium brands with expert knowledge of their respective regions, including, “Asian Trails”, “Desert Adventures Tourism”, “Gulf Dunes”, “Private Safaris (East & South)”, “Allied TPro” as well as “Australian Tours Management” and extends across 17 countries- USA, Canada, South Africa, Kenya, Namibia, The United Arab Emirates, Jordan, Oman, China, Malaysia, Thailand, Cambodia, Laos, Myanmar, Vietnam, Indonesia and Australia.
Madhavan Menon, Chairman & Managing Director, Thomas Cook India Group said, “In keeping with the Fairfax strategic intent of fair and friendly acquisitions, our agreement to acquire Kuoni’s global network of Destination Management Specialists in 17 countries, provides us a significant expanded global footprint with enhanced presence in The Americas, Middle East, Africa, Asia and Australia- all favoured destinations for tourists and business travellers worldwide.”
He added, “This acquisition is a strong reiteration that the Thomas Cook India Group continues to invest and grow its travel businesses globally with a view to creating strong value for its customers.”
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