Cox & Kings likely to acquire UK based Holidaybreak

27 Jul 2011 Evaluate

Cox & Kings, Mumbai-based tour operator, is in discussion to acquire British specialist travel company Holidaybreak. This deal, possibly, will result in the biggest cross-border transaction by an Indian travel company. Holidaybreak believed the discussions may or may not lead to a cash offer of 432.1 pence per ordinary share, which is at a premium of 18% to the stock's July 25th close.

Holidaybreak, provides residential outdoor education and adventure trips for school children, and valued at 225.24 million pounds based on its July 25th close. Holidaybreak had revealed it was in takeover talks with third parties.

Cox & Kings gets over half its overall revenues from international operations and is looking at more overseas buys to drive future earnings and growth. The company in December 2009 had acquired Australia-based MyPlanet Australia Pty Ltd & Bentours International Pty from a unit of TUI Travel Plc, and has been scouting for buys since the middle of 2010.

Cox & Kings Share Price

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