STERLING HOLIDAY RESORTS BECOMES A SUBSIDIARY OF THOMAS COOK INDIA
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Pursuant to a purchase of 11,863,334 paid-up equity shares of Sterling Holiday Resorts (India) Limited (SHRIL) at Rs. 98 per share in an off-market transaction by Thomas Cook Insurance Services (India) Limited (TCISIL), TCISIL now holds approx. 53.48 per cent of SHRIL. Thus, SHRIL has now become a subsidiary of TCISIL.
TCISIL is a wholly-owned subsidiary of Thomas Cook (India) (TCIL). Another subsidiary of TCIL, Travel Corporation (India) Limited (TCI) owns approx. 1.67 per cent of the paid-up equity of SHRIL. The Thomas Cook India group now holds approx. 55.14 per cent of the paid-up equity share capital of SHRIL.