Thomas Cook India acquires Sri Lanka-based Luxe Asia
Travel company Thomas Cook India has acquired Sri Lanka-based destination management firm, Luxe Asia, for an undisclosed sum.
The buyout has been done through its wholly-owned subsidiary, Thomas Cook Lanka Pvt Ltd, and post acquisition Luxe Asia will be operated as an independent entity, Thomas Cook India said.
"Our acquisition of Luxe Asia reiterates delivery of our strategic intent of establishing a global destination management presence. Luxe Asia will continue to focus on its core domain of inbound tourism across key global source markets," Thomas Cook India managing director Madhavan Menon said.
Shares of Thomas Cook India on Thursday closed at Rs 227 per scrip on BSE, up 1.07% from its previous close.