Thomas Cook India acquires Sterling Holiday Resorts
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Sterling Holiday Resorts, the Chennai-based timeshare company, has been taken over by Thomas Cook India.
The company has now become a subsidiary of Thomas Cook India following the purchase of nearly 11.9 million shares, priced at INR98 (approximately US$1.63) per share.
As a result, Thomas Cook Insurance Services (India) Limited now holds approximately 53.48% of Sterling Holiday Resorts, while a further 1.67% is held by Travel Corporation (India) Limited. This takes Thomas Cook India’s total stake in Sterling Holiday Resorts to 55.14%.
Established in 1986, Sterling Holiday Resorts is one of the leading vacation rental companies in India, with almost 20 properties nationwide.
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