rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
« Back

CCI gives nod to Rs 870 cr Thomas Cook-Sterling Holiday deal

Write a comment

March 07, 2014 21:23


The Rs 870 crore-deal involving the merger of Sterling Holiday Resorts with travel firm Thomas Cook (India) has received the Competition Commission's approval. 

Approving the multi-structured deal, fair trade regulator CCI said the deal is not likely to have an adverse impact on competition in the country.        

Under the deal, Chennai-based Sterling Holiday Resorts' (India) resorts and some other business would be transferred to Thomas Cook Insurance Services, a subsidiary of Thomas Cook (India). Further, Thomas Cook would issue certain equity shares of the subsidiary to Sterling Holiday's shareholders.

Stars spotted!  What's this?

Spotted: Siddharth Malhotra, Aditi Rao Hydari in New York
Reader Adhiraj Badyal sends us a photograph.

More stars spotted

Met a celebrity?
Email us photos & videos