Cox and Kings has invested an undisclosed amount in travel management company RADIUS. With this investment Cox and Kings becomes a majority shareholder partner in the firm, the company was quoted saying by Economic Times.The investment is made through Cox and Kings Singapore subsidiary.The report said the firm already has a sizeable leisure market share in its portfolio and is trying to expand and strengthen its hold in corporate travel. “We believe this investment will further strengthen our ongoing partnership with RADIUS and provide us with the scale to service our existing blue chip corporate customers in India and service their requirements in international, markets where we do not have a presence,” Peter Kerkar, director , Cox and Kings, was quoted saying.Corporate travel is a fast growing segment in Indian market and has grown about 30% in the country according to company estimates, the report said.RADIUS has combined annual sales of US$21 billion and claims growth of over 200% over the last three years, according to the report.”This investment will allow us to take full advantage of the current market opportunity. Cox and Kings is one of our key shareholders in India and they are poised to grow and become a leading corporate travel player,” Chris Vasiliou, president and CEO, RADIUS, was reported saying.RADIUS has a presence in 80 countries and at 3,600 locations and tie ups with 90 travel agencies.
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