Thomas Cook gets CCI’s nod for Kuoni’s acquisition
Thomas Cook India, one of India’s leading travel services company, has received approval of the Competition Commission of India (CCI) for its acquisition of Kuoni Travel India, vide order dated December 15, 2015. The shareholder approval had earlier been obtained by way of a postal ballot on September 21, 2015.
Commenting on the acquisition, Madhavan Menon, managing director, Thomas Cook India, said, “With the approval of CCI, we aim at swift closure of the acquisition of Kuoni Travel India. We see strong synergies and benefits accruing from Kuoni’s well established presence in India, along with SOTC – garnering strong brand recall as well as multiple avenues to grow our respective businesses and to create valuable business opportunities together.”