Thomas Cook's open offer for Indian arm opens on May 16

13 May 2008

Thomas Cook Group Plc's open offer for 20 per cent stake in its Indian arm, Thomas Cook (India) Ltd, for about Rs351 crore will now start on May 16.

The UK-based travel firm has revised the schedule of the open offer, as per which the offer would now remain open from May 16 to June 5, Thomas Cook (India) Ltd said in a filing with the Bombay Stock Exchange.

The offer was to remain open from April 22 to May 12 as per the original schedule.

Other terms and conditions of the offer remain unchanged, the company said.

Thomas Cook UK has offered to acquire 32,795,996 equity shares, representing around 20.4 per cent of the current voting capital of TCIL, at Rs107 per share, according to the filing.

The offer is in compliance with the Securities and Exchange Board of India (SEBI) Substantial Acquisition of Shares & Takeovers Regulations, 1997, as amended.